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J
Jerry C
Level 4
February 21, 2025
Question

IRA Traditional Deduction

  • February 21, 2025
  • 1 reply
  • 9 views

I have a client with AGI Of $231,000. He doesn't work for anyone. Independent Investor.

He wants to make an IRA Contribution of $8,000(He is over age 50).

The software will not allow.

Why?

This topic has been closed for replies.

1 reply

sjrcpa
sjrcpa
Level 15
February 21, 2025

"Independent Investor" as in no earned income?

The more I know the more I don’t know.
    J
    Jerry CAuthor
    Level 4
    February 21, 2025

    Correct, no Earned Income. buys and sells all year.

    J
    Jerry CAuthor
    Level 4
    February 21, 2025

    buys and sells all year.

     

    all income is a result of capital gains, dividends, and interest

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