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Iam single and retired with an AGI well under $101,000 but no earned income for 2008. Can I contribute to a Roth IRA for this year?

April 26, 2017AGI earned IAM income retired roth ira

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Iam single and retired with an AGI well under $101,000 but no earned income for 2008. Can I contribute to a Roth IRA for this year?

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Unfortunately not. Annual contributions to Roth IRAs, just like traditional IRAs, can only be made for years when you have earned income. However, assuming your AGI is under $100,000 this year, you can convert your traditional IRA into a Roth if you are willing to pay the up-front tax hit. There is no earned income requirement for conversions.