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Old 11-02-2010, 06:18 AM
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Do I need to recharacterize my 2009 Roth COntributions?

I'm self employed and I qualify for the Foreign Income exclusion, but I also had taxable income from Army Reserve duty that didn't qualify. So, my AGI is around $9000. However, after itemized deductions on form 1040 and expenses from Schedule C my "earned income" is $0. So, my tax-preparation software is telling me I can't contribute to a Roth. Is this correct? I thought my taxable income from the Army Reserves would allow me to contribute.

thanks



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