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Opening a Roth IRA
« on: October 10, 2011, 12:54:39 pm »
Hey all, I am planning on staying in Korea for one more year and was thinking that it would be a good idea to open a Roth IRA and start putting some money in it because....well....I'm not getting any younger. Anyone have experience managing one while here in Korea? Is it even possible? Thanks.

Re: Opening a Roth IRA
« Reply #1 on: October 10, 2011, 02:14:36 pm »
For IRA purposes, taxable compensation does not include amounts you exclude from income, such as the foreign earned income exclusion claimed on Form 2555. So  you can only do it if it's income you don't exclude. (For example your foreign earned income is over $91,550 or perhaps you have some Earned Income from the US) I'm not a tax expert, just my understanding of it.