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Subject:  Re: Roth IRA - 1099 and Fellowship Income Date:  2/9/2009  6:40 AM
Author:  TMFPMarti Number:  104383 of 127613

If you deduct the expenses, then you and your wife have overcontributed to your Roth IRAs. But except for the self-employment tax, I don't think there's any requirement that you deduct business expenses.

I disagree. I recall hearing about a criminal case which was based on underreported expenses. Of course, there was corresponding unreported income, but they couldn't find it (a laundromat). They could sure find the electric and water bills, though.

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