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IRA Eligibility


Randall

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IRA contribution is calc'd using W-2 box 1 minus box 11. 

It sounds like your S corp W-2 has only the health insurance in box 1 and no actual wages were paid, and therefore boxes 3 and 5 are zero. Is that correct?

If that is the case, no SEHI would be allowed because the medicare wages from the S corp are -0-, but I do think that the IRA contribution would be deductible.

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