A:

Wages from past years can't be used as a basis for making contributions to a Roth in the current year. In order to establish a Roth, you must have earned taxable compensation or self-employment income for the year. If you did not earn income this year, you are not eligible to contribute.

To learn more about Roth IRAs, see Roth IRA: Back To Basics and the Roth IRAs tutorial.

This question was answered by Denise Appleby
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