04-25-2007, 08:17 AM
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 Re: Imputed Income - IRA Contribution? Bob L wrote: - quote - > I retired a few years ago and opted to receive life
Yes, if you meet all the other rules regarding deductible> insurance, paid for by my employer, in excess of $50,000. > Each year I receive a W2 from my employer for the imputed > income that is subject to taxes. Currently the imputed > income is $333. Can I make a $333 contribution to my IRA > against this imputed income to reduce my taxes? IRA contributions. -Mark Bole << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
04-09-2007, 06:51 AM
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| Imputed Income - IRA Contribution? I retired a few years ago and opted to receive life insurance, paid for by my employer, in excess of $50,000. Each year I receive a W2 from my employer for the imputed income that is subject to taxes. Currently the imputed income is $333. Can I make a $333 contribution to my IRA against this imputed income to reduce my taxes? << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| contribution, imputed, income, ira |
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