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Roth IRA Eligibility


CLE401kGuy

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Situation:

  • Single taxpayer aged 25
  • W-2 $6,300
  • Sch C loss($5,236) started this business after working and getting above w-2
  • Adjusted gross income $13,198 (interest, dividends and capital gain make up the balance)

Can the taxpayer make a $2,500 Roth contribution for 2012?

What I'm reading points to max Roth contribution of $1,064, but a CPA's research seems to indicate the $2,500 is OK... Am I overlooking a key piece of info?

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