Re: Roth IRA questions..
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You cannot deposit money that you have made from poker, correct?
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Yes you can. As long as you pay taxes on it.
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You're right, you can deposit money even if you have $0 earned income, but you will be penalized heavily. I believe something like 6%.
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Wait, could someone elaborate on this? I always thought you couldn't put any money in a Roth if you had no earned income. Would it then be worthwhile for someone like me (I have zero earned income for 2006, but I will be paying taxes on my poker winnings) to put $4k in a Roth?
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