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mwcpa
Senior Member

Joined: Jan 7, 2011 6:35:43 GMT -5
Posts: 2,425

IRA Mar 12, 2011 5:05:09 GMT -5

Quote

Post by mwcpa on Mar 12, 2011 5:05:09 GMT -5

if you meet all of the requirements, yes, based on the part time work as a pension is not earned income....

example...
earn 10,000 from part time work
collect 20,000 from a pension

IRA contribution limit is 5,000 (or 6,000 if you are 50)

but, if
earn 2,000 from part time work
collect 20,000 from a pension

IRA contribution limit is 2,000

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