The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: contribution to a roth IRA||Date: 1/6/2000 7:00 PM|
|Author: Bobbcat||Number: 17455 of 76418|
Annual contributions to a Roth or to a traditional IRA must come from earned income, and that means wages/compensation from a job. Your CD interest and principal will not qualify for the purposes of a Roth IRA contribution.
If you had earned income in 1999 of at least $2,000 or will have $2,000 earned income in 2000; you can use the money from the CD to make a 1999 or 2000 contribution.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|