Guest StonieJ Posted July 23, 2003 Posted July 23, 2003 I am a 19-year old full-time college student and a dependent on my parents' tax forms. During the summers I take odd jobs around the community, such as painting houses, mowing lawns, etc. This summer I am on track to make approximately $3000. All of the money I make is being paid to me out of my clients' pockets. If I understand correctly, because I'm making less than $4700 a year, I do not have to file for taxes. However, I would like to contribute $2500 (out of the $3000 I will make total) to my Roth IRA. To put it simply, can I do this? And if I do contribute, do I need to file for taxes, even though I'm under the $4700 limit? My main concern is that the $3000 I'm making might not be recognized by the government as "earned income" or whatever. I'm basically clueless when it comes to tax issues and I was hoping someone could help me out.
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