Browsing: pay

Q: If I retire at the end of the year and receive my last paycheck for the wages in the next year, could that income be used as the basis for contribution to an IRA? You recently said “no” for this option regarding receipt of lump-sum annual leave, but what about wages earned in 2010, but not received until 2011? A: That is earned income for 2010, deferred into 2011, so is not earned income for 2011.