Hi tax gurus,
I contributed the full 6500 to my IRA in early 2017, but now realise I won't have any W2 income this year (I'm working overseas and am not currently resident in USA). Lots of rental income (doesn't count I think) and taxable investment income (again, doesn't count).
I know I can 'reverse' the over contribution and the earnings associated with it, but is there a better way? Can I somehow legally create taxable income up to the deduction so I can fund the IRA?
cheers,
Mr Mark