Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-15-2013, 02:26 PM
Junior Member
 
Join Date: Apr 2013
Posts: 2
Eligibile for IRA Contribution?

Didnt work at all in 2011 except for the last two weeks of the year (pay period 12/18/11 - 12/31/11). Earnings would constitute w-2, box 1 wages -- however payment wasnt received until early January 2012.

On the one hand, I had "earned income" in 2011, however we was not received/paid until 2012...It was obviously not reported on a 2011 W-2.

Can I make an IRA contribution, submitting my pay stub showing the 2011 pay period and earnings in lieu of a W-2?

thanks!



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 04-16-2013, 01:50 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
“Can I make an IRA contribution, submitting my pay stub showing the 2011 pay period and earnings in lieu of a W-2?”================>To contribute to an IRA, you must have some amount of taxable, earned income during the year—like salaries, wages, tips, bonuses, commissions, self-employment income, or alimony; even if your wage was not reported on your 2011 W-2, you can contribute to an IRA for 2011; you were required to include in gross income amounts that, though not actually received, were deemed received during the tax year of 2011( since you earned taxable income in 2011 and were under age 70 ½, you can contribute ) .



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Capital Contribution Tax Treatment LLC12 Limited Liability Company 1 03-14-2013 11:45 AM
Excessive Roth IRA Contribution thewait IRA/Sep 1 01-30-2013 01:47 AM
IRA Contribution problem skschlag IRA/Sep 1 04-21-2009 07:06 PM
Charitable Contribution? CP13 Itemized Deductions 1 03-08-2009 01:22 PM
Tax treatment for Pension contribution! awkan Sole-Proprietorship 1 01-25-2007 09:36 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.