Can NEETS put their money into roth IRA? or do you need to be employed to get one
>>1648995
IRA contributions have to be from earned income.
Christmas money from Gram-gram doesn't cut it.
>>1649709
Wrong.
You can't contribute shit if you don't have anything listed on your 1040. It's the lesser of $6,500 or taxable compensation for the year, which (if you have no "taxable compensation") is zero.
The only exception would be if you're married, as that's considered joint income, so if your wife had $13K in income, you could both contribute the $6,500.
>>1649719
Social security and disability arent taxable income?
>>1649756
I don't know how they classify those, as I receive neither, but the point is, if you have nothing to declare as taxable, you can't contribute.
I used to make tons under the table, but was still shit out of luck.
>>1649887
Pretty much if its not recorded, taxed income, then no.
>>1649887
There are some unusual ways you could contribute w/o a job (alimony, options), but generally, no.
You (or your spouse) need to be employed to contribute, because the income contributed must be earned, not gifted.
Clear?
>>1649756
pretty sure you cant put SS or disability into an IRA are you fucking retarded
"The only non-work income that counts is alimony -- not long-term disability."
http://finance.zacks.com/can-longterm-disability-contributed-ira-8586.html