RMD’s and Roth IRA’s
As a retiree in my mid 70’s I have some IRA’s and have to take RMD’s. My question is can I take the RMD money and put it in a Roth IRA? My understanding is you can only invest in IRA’s if you have income but since we are taxed on the RMD money does that qualify as income?
Terry Says
No, sorry. You can only deposit into an IRA if you haveEARNED INCOME — nothing that comes from interest, or savings, or investments.
