Ira eligible???

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  • gman
    Senior Member
    • Dec 2005
    • 676
    #1

    Ira eligible???

    Spouse has w-2 income of 15,000. Taxpayer has farm loss of 30,000. Can they (both) or one put into an IRA??

    Thank you
    Tags: None
    • TaxGuyBill
      Senior Member
      • Oct 2013
      • 2338
      #2
      Yes, they both can (using the spousal IRA rules).


      Self-employment loss. If you have a net loss from self-employment, do not subtract the loss from your salaries or wages when figuring your total compensation.

      http://www.irs.gov/publications/p590/ch01.html#en_US_2013_publink1000230360

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