For example, interest-only loans are a popular type of mortgage that are not covered by the QM rule. Many lenders will still originate these loans because there is a demand for such a product. These will probably be the most common loan type under the non-QM umbrella, with high-net-worth borrowers the likely target.
Alimony income. For purposes of making an IRA contribution, taxable alimony income counts as qualifying income. This is a special rule that permits you to build retirement savings in an IRA even if you rely on alimony income for your support. The rule applies only to taxable alimony income, though.
IRA Contribution Eligibility. Even though a portion of your 529 plan withdrawal is taxable, that doesn't mean you have compensation that allows you to contribute to an IRA. Compensation only includes your income from working, such as your salary or self-employment income, plus any taxable alimony received.lus, to contribute to a traditional IRA, you must be under 70 1/2 years old. For Roth IRAs, your modified adjusted gross income, which includes the taxable portion of your 529 plan distribution, must fall below the annual limits for your filing status.