Guest husstang Posted January 13, 2004 Posted January 13, 2004 I am a college student that works during breaks from classes. I don't earn $3000 a year at these jobs and therefore not able to contribute the maximum to my Roth IRA. I have some money in a savings account and also some money in stocks. My two questions are: 1.) Does the interest from the savings account count towards my earned income, abling me to contribute more than I made at these jobs. And 2.) does the dividends and/or captial gains count toward my earned income, allowing me to contribute more than I earned at my job? thanks for the help.
John G Posted January 13, 2004 Posted January 13, 2004 1 - No. 2 - No. Earned income is income from wages and can include some self employment type incomes like lawn mowing, babysitting jobs, and newspaper routes.
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