Turstee Income

I assume you are trustee of a trust? And receive money for doing that?

If you are in a trade or busisness of acting as trustee for trusts, perhaps an attorney specializing in trust administration, then trustee fees are eligible, subject to other rules spelling out how much of those fees you can use.

But if this is a one of a kind thing for you, the income goes on form 1040 line 21 and is not eligible for for IRA contribution.

You need to be more specific - your question is so ambiguous that it is virtually impossible to give you a reasonable response in the amount of space we have here.

If you mean, can a trustee who is being paid for his work as a trustee, qualify to make IRA contributions, the answer is probably yes. He is earning income by his labor, and up to the amount of that kind of income (subject to IRA limits) is eligible.

If you mean you are the trustee of your own trust and your trust is earning (passive) income, then no, that does not qualify.

If you mean that you are the beneficiary of a trust and the trustee pays you, no that money doesn't qualify either.

Being paid for an inlaws trust. One time payment only. Tks again.

Again, I have no idea what you are talking about. Did you create a trust and someone paid you to do that? Who paid you.

Or did the trust pay you something for some reason? Was it a gift or was it for services? Did the money come from interest or principal?

If you want help you really need to give a lot more information. Even the simplest question may be difficult to answer without facts, because everything in the law depends on specific facts.

And as a one of a kind thing for you, it is not subject to Self Employment tax.