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Updated about 4 years ago on . Most recent reply presented by

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John Underwood
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  • Investor
  • Greer, SC
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Real Estate Professional no W-2 and IRA contributions

John Underwood
#1 All Forums Contributor
  • Investor
  • Greer, SC
Posted

I have no W-2 job, can I still contribute to my E*TRADE Roth IRA account

Situation:

I self-manage my LTR portfolio

I self-manage my STR property that is an hour away.

I buy tax liens at auction every year.

I have flipped at least one property per year, but not sure that will happen every year.

I am a RE professional 

I also have a Solo401k, but I only contribute to it prom proceeds of a flip.

So can I still contribute to a standard Roth IRA without a w-2 job?

  • John Underwood
  • Most Popular Reply

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    Michael Plaks
    #1 Tax, SDIRAs & Cost Segregation Contributor
    • Tax Accountant / Enrolled Agent
    • Houston, TX
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    Michael Plaks
    #1 Tax, SDIRAs & Cost Segregation Contributor
    • Tax Accountant / Enrolled Agent
    • Houston, TX
    Replied
    Originally posted by @John Underwood:

    You can structure it to generate earned income via a separate property management company. The tradeoff is that you will trigger a 15% self-employment tax on this income.

  • Michael Plaks
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