Roth IRA and Working Abroad
Category: Business and Money > Accounting
Asked by: empanadita-ga
List Price: $10.00
22 Jun 2006 14:15 PDT
Expires: 22 Jul 2006 14:15 PDT
Question ID: 740297
Can a US citizen working abroad for a foreign company contribute to a Roth IRA and what are the limits? Assume the citizen meets all requirements to be considered a foregn resident by the IRS.
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Re: Roth IRA and Working Abroad
From: davinoadam-ga on 23 Jun 2006 10:03 PDT
I lived in Germany for four years (2001 to 2005) and contributed to my Roth IRA every year. My pay was deposited into a US bank account, I was paid in US dollars and I DID pay US income tax every year. You are required to to have W2 reported income equal to or greater than the amount you deposit in your Roth IRA ($4000 per person per year right now). If you are trying to get out of US taxes and still contribute to your IRA it may be trickier. Good luck!
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