MRD-IRA ROTH COntribution

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MRD-IRA ROTH COntribution

Postby mcshade725 » Wed Jan 30, 2013 10:34 pm

I am over 70 and have a IRA MRD commencing. However, I did have a small amount of income last year. Can I still contribute to a Roth IRA for the amount of those earnings?
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Re: MRD-IRA ROTH CONTRIBUTION

Postby linuxuser » Wed Jan 30, 2013 10:43 pm

I think you mean RMD Required Minimum Distribution.

Income from a job? Then yes, you can contribute up to the amount of those earnings.
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Re: MRD-IRA ROTH CONTRIBUTION

Postby dickenjb » Thu Jan 31, 2013 9:26 am

linuxuser wrote:I think you mean RMD Required Minimum Distribution.

Income from a job? Then yes, you can contribute up to the amount of those earnings.


Doesn't have to be from a job. Alimony and certain other forms of earned income qualify as well. See Pub 550.

Yes, my 78 yo MIL takes her RMD every January and then takes a portion of it and plows it into her Roth. Or is it the money she saves from her alimony checks? I am not completely sure as dollars are fungible.
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