Does anyone know whether I can continue to contribute to a Roth IRA while I am collecting unemployment benefits? Hopefully it won't be for long. Am still paying taxes on unemployment benefit check.

Dave321:

If you have earned at least $3,000 in tax year 2005, then you can contribute that much to your ROTH IRA. The restriction is the amount of EARNED income you make. Unemployment compensation is NOT earned income and does not qualify for ROTH IRA contributions.

Thank you Atlanta. I appreciate it. Dave.

That's what I am here for.