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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: pka222 on April 10, 2012, 07:25:11 PM

Title: ROTH IRA
Post by: pka222 on April 10, 2012, 07:25:11 PM
Is it possible to contribute to a Roth IRA if your only income is foreign earned income (filed on a 2555 form)? I made a few hundred in dividends but nothing else in the US, can I still contribute to my IRA?
Thanks
Title: Re: ROTH IRA
Post by: Grigory on April 10, 2012, 10:47:15 PM
Sorry, but that'd be impossible. According to IRS Pub 590 (http://www.irs.gov/publications/p590/ch01.html#en_US_2011_publink1000230355),  foreign-earned income doesn't count.
Title: Re: ROTH IRA
Post by: pka222 on April 10, 2012, 11:14:08 PM
Awesome Grigory - I guess I'll just have to get those dividends to pay a bit more next year
Cheers