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Latest revision as of 14:46, 22 October 2024

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Defenders belonging to the IRS position would say it comes home to Section 61. The waitress provided a service for me, and I paid for it. Compensation for services is taxable. End of account.

If the $100,000 a full year person didn't contribute, he'd end up $720 more in his pocket. But, having contributed, he's got $1,000 more in his IRA and $280 - rather than $720 - in his pocket. So he's got $560 ($280+$1000 less $720) more to his url. Wow!

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