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Subject:  Re: W2 or 1099 req to open a ROTH IRA? Date:  2/21/2012  8:16 PM
Author:  TMFPMarti Number:  115173 of 129671

Could someone please tell me if you need to file a W2 or a 1099 to be eligible to open a ROTH IRA account? I know you need earned income,...

No third-party reporting is necessary, and no wage income is necessary. Actually the term of art is "taxable compensation," and by law that includes:

1. Wages and salary
2. Net earnings from self-employment
3. Alimony

See Pub 590.

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