PDA

View Full Version : Roth Ira question?



hithard
09-12-2013, 01:35 PM
I know this is a casting forum, but there are some real deal people here that talk in plain english.

My daughter is married and lives abroad, can set up and contribute into a Roth IRA? He is not a citizen but has a social security number from doing an internship with a law firm here in the states. Can he set up a Roth?

Thank You for your help.

Iowa Fox
09-12-2013, 01:48 PM
I'm going to guess that they need earned income and file a United States tax return for it. Income that generates a W2 or 1099 or whatever they call them these days. All my income, Interest, dividends, Social Security, and Farm rent is unearned income so I can not contribute to my Roth but boy do I have to pay taxes on it.

Alvarez Kelly
09-12-2013, 04:00 PM
Iowa Fox is right. She may contribute to a Roth from earned income ONLY. If she files a US tax return and pays income tax from a job, as in, earned income, she can contribute to a Roth IRA. If they file a joint return, he can contribute also, up to the annual Roth limits OR the total of her earned income. Their combined Roth contributions can't exceed her earned income.

hithard
09-12-2013, 07:24 PM
Thanks guy's,

This place is like a country hardware store, they have everything!