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Old 02-11-2004, 02:56 PM
Harlan Lunsford
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Default Re: Severance or unemployment count as earned income?

Barry Margolin wrote:

- quote -

> For purposes of being able to contribute to an IRA, does
> severance pay or unemployment insurance count as earned
> income?


The former IS pay, and therefore appears on a W2, and
therefore is earned income. The latter however is not.

Cheer$,
Harlan Lunsford, EA n LA

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  #2  
Old 02-11-2004, 02:37 PM
A.G. Kalman
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Default Re: Severance or unemployment count as earned income?

Barry Margolin wrote:

- quote -

> For purposes of being able to contribute to an IRA, does
> severance pay or unemployment insurance count as earned
> income?


Severance YES, Unemployment NO.

--
Alan
http://taxtopics.net

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  #1  
Old 02-11-2004, 01:39 PM
Helen P. OPlanick EA
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Default Re: Severance or unemployment count as earned income?

- quote -

> For purposes of being able to contribute to an IRA, does
> severance pay or unemployment insurance count as earned
> income?


Severance as it is reported on a W-2.

Helen, EA in PA
Member of The Tax Gang
Director, National Assoication of Enrolled Agents
Immediate Past President, PA Society of Enrolled Agents

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Old 02-11-2004, 11:05 AM
Phil Marti
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Default Re: Severance or unemployment count as earned income?

Barry Margolin <barmar[at]alum.mit.edu> writes:

- quote -

> For purposes of being able to contribute to an IRA, does
> severance pay or unemployment insurance count as earned
> income?


Severance yes; unemployment no.

Phil Marti
Topeka, KS

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  #-1  
Old 02-10-2004, 03:11 AM
Barry Margolin
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Default Severance or unemployment count as earned income?

For purposes of being able to contribute to an IRA, does
severance pay or unemployment insurance count as earned
income?

--
Barry Margolin, barmar[at]alum.mit.edu
Arlington, MA

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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