I am still trying to sort this out for my own purposes; but I do believe, while it would be deductible on your 1040, you would still need to pay self-employment tax on your net earnings, which would need to be at least $6k to contribute $6k. *But don't quote me* Hopefully someone with more expertise will respond.Request IRS Pub 560Also, these were helpful for me:www.johnecpa.com/Simple.htmlwww.valuedesign.com/HRforms/IRSnotice97-6.htmLeRoy
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar<