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1-Can someone with no adjusted gross income of $2250 (artist friend age 56) still contribute $5000 to A Roth IRA?

The maximum contribution is the lesser of $5,000 or the "taxable compensation" on the return filed. That's the total of lines 7, 11, and 12, minus lines 27-28 of the 1040. If the taxpayer files a joint return, both spouses can use the taxable compensation on the return regardless of which spouse earned it.

2-Are Roth IRAs subject to capital gains taxes at anytime?


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