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I am retired and my sole income sources are social security and my company pension. In connection with the latter my ex-employer still pays for life insurance for me. This generates "imputed income" on which I have to pay income tax. Ths being the case can I open a Roth (or even a conventional) IRA account in the amount of the imputeD income?
If the answer is no, why not? Apparently I have to enter it on my tax return as Wages, etc.

Thank you,

Derek Welch
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