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http://boards.fool.com/earned-income-for-roth-23691358.aspx
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| Subject: Earned Income for Roth | Date: 2/11/2006 2:39 PM | |
| Author: musicmaker | Number: 49903 of 72248 | |
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I retired from teaching in 2004. As part of our retirement, the school district offered a $20,000 retirement bonus to be paid in four $5000 installments each January of the 4 years following retirement. The district withholds Fed, state, social security and medicare taxes. I received a W-2 statement for the $5000. Is this bonus considered earned income? Am I eligible to contribute $4500 for a 2005 Roth and $5000 for a 2006 Roth? |
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