SundayInThePark
Confused about dryer sheets
- Joined
- Feb 26, 2021
- Messages
- 2
Hello!
This past year I've transitioned out of my job temporarily to take on caring for my elderly father, and am being compensated by the rest of my family for working as his caregiver. I'm not an official employee, and we're pretty loose about sending/receiving funds as needed. If I don't file taxes next year (I'm making less than the standard deduction for unmarried filing status), can I still contribute any of my caregiving earnings from this year to my Roth IRA?
If not, what would I need to do to be able to put those earnings towards my Roth IRA? Pay taxes on them? Start making a record of work/payments?
Thank you
This past year I've transitioned out of my job temporarily to take on caring for my elderly father, and am being compensated by the rest of my family for working as his caregiver. I'm not an official employee, and we're pretty loose about sending/receiving funds as needed. If I don't file taxes next year (I'm making less than the standard deduction for unmarried filing status), can I still contribute any of my caregiving earnings from this year to my Roth IRA?
If not, what would I need to do to be able to put those earnings towards my Roth IRA? Pay taxes on them? Start making a record of work/payments?
Thank you