Submitted By: someone
Answered: April 7, 2017 8:39 am

Can I make a Roth IRA contribution based on the fees I received as executor of my mother’s estate?

Roth IRA contributions must be based on earnings as an employee or from self-employment. Executor fees, while included in gross income, are not treated as self-employment income for someone who is not in the trade or business of being an executor (i.e., someone who serves as one for a relative).

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Tax Glossary

Section 1231 property

Depreciable property used in a trade or business and held for more than a year. All Section 1231 gains and losses are netted; a net gain is treated as capital gain, a net loss as an ordinary loss.

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