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Community: Investing Wiki

Term Of The Hour

ira and income: Original post by Deborah Barlowe of Demand Media The Internal Revenue Service (IRS) typically requires a person to earn income to make a contribution to either a traditional IRA or a Roth IRA. If an individual does not work and records no taxable income during a tax year, the IRS may allow his wife to contribute to an IRA on his behalf, however. The IRS maintains the same criteria when determining…

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