Series 66: 5.2.4.1.1. Contributing To An IRA

Taken from our Series 66 Online Guide

5.2.4.1.1. Contributing to an IRA

The government puts limits on IRA deduction amounts. All contributions must be made only from earned income, as opposed to passive income. Earned income typically means wages, or as the IRS puts it, taxable compensation. (Unearned income includes dividends, capital gains, and interest on securities; social security benefits; unemployment benefits; child support; rental income; and inherited funds.) Traditional IRA contributions are limited to $6,000 per individual in 2022 and $6,500 in 2023; however, an additional $6,000 can be contributed to a non

+ Read More

More Series 66 Info

What are people saying?

Create an Account

Since you're reading about Series 66: 5.2.4.1.1. Contributing To An IRA, you might also be interested in:

Series 24 - 3.7.3.3. The Price Declines

Series 53 - Exercise

Series 6 - 4.1.1.2.1. Right to Inspect Records

Series 66 - 4.2.2.3 Death

Series 79 - Preparing for the Final Round

Series 82 - 1.2. Conduct Rules

Series 24 - Corporate Accounts

Please Enable Javascript
to view this content!

Site Login

TESTIMONIALS

What are people saying?

I have been extremely happy with your book series. I was able to pass the Series 66 and Series 65 with flying colors on the first try! Thanks again.

Christian Brown, Financial Decisions Group

I used Solomon's Online Exam Simulator as a supplement to company provided materials for the Series 7 & 66, passing with scores of 86% & 88%. The online simulator made it easy to study on the go and provided peace of mind of preparedness walking in on test day. Highly recommended.

John Watlington, Merrill Lynch, Raleigh, NC

Your Pass the 7 and Pass the 66 training manuals were really well written and the generous dose of sarcasm was excellent. I would recommend your materials to anyone who needs to take these exams.

Jacob Clevenstine, Strategic Wealth Management Group, Madison, WI

I found encouragement along the way from reading other people's testimonials, so payback is to write one of my own. Solomon is the gold standard for customer service. I passed the 66, SIE first tries -- received a 69% on the 7 (failed), but passed on the 2nd attempt. I'm in awe over the outreach I received from day 1 but especially from Jeremy on how to move forward after falling short on the Series 7 - followed his advice - one of which was to get the accompanying videos and passed. Watching/studying the Chapter 5 video had a big impact. I also printed the questions I got wrong that I particularly struggled with while taking the online exams, printed and/or turned them into flashcards, then taped many of them around the house. It forced me to constantly revisit the information and moved me past a superficial understanding. I'll take a messy-looking home for a short time than having to retake a 3 hour and 45 minute exam.

Brook Langston, Everspire. Salt Lake City, UT

I passed my 66 with an 83%. The main method of studying was the mp3 that I downloaded and listened to on my commute to and from work. The audio book was the reason I did well. Thanks!

Eric Dicken, BB&T Investments, Winterville, NC

Passed 66 on the first try with flying colors. Solomon materials and advice was spot on. Follow it!

Craig Brand, Capital Financial Services, Nevis, MN