2007-04-29 03:04:53 · 6 answers · asked by Lisa M 1 in Business & Finance ➔ Taxes ➔ United States
You must either have earned income (wages, salary, self-employment income) or alimony received to make the contribution. If your spouse has these sources of income and you file a joint return, you are also entitled to make an IRA contribution.
2007-04-29 12:49:55 · answer #1 · answered by NotEasilyFooled 5 · 0⤊ 0⤋
Yes, if you have earned income for IRA
if Social Security disability is your only income, the answer is no
2007-04-29 04:12:11 · answer #2 · answered by Jeff 3 · 0⤊ 0⤋
Not if that's your only income. You can only contribute to an IRA if you have income from a job. If you do, then yes you can.
2007-04-29 03:19:14 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
You would have to earn some income, work some. You can do this and still receive disability.
2007-04-29 03:16:37 · answer #4 · answered by Jo Blo 6 · 1⤊ 0⤋
you should have earned income. era. suggestion: purchase $2 hundred well worth of mark downs bonds a month. it's going to accrue tax-loose in there till adulthood...and in case you come back off SSDI and go back to artwork, you would possibly want to funds them in to modify income you position into an IRA.
2016-11-23 14:37:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If you have another source of earned income, yes. Otherwise, no.
2007-04-29 03:27:54 · answer #6 · answered by Bostonian In MO 7 · 0⤊ 0⤋