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Old 03-03-2015, 06:42 PM
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Join Date: Mar 2015
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tribal member and IRA

I was recently told to open an IRA to deduct from my income. I am a tribal member who receives 1099-misc income. after opening one up, putting the allowed 5500 into the account, I am now being told by turbotax (who I do my taxes with) that I cannot deduct it from my income as it is not "earned income" my question is is this true, and if so, how do I go about closing the account and getting my money back from something I just opened and funded without getting taxed on it? really feel like I got screwed with bad information on this one and its gonna cost me



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