when all of my income is rental or trust income? IRA's only allowed earned income. I also can't deduct any IRA contributions. I don't have a 401k since I am self-employed, if that's what you call a landlord who only manages one or two rental units. So I guess I can't save anything that can grow tax free, is there?
Jack
Favorite Answer
Without earned income, you can not fund an IRA (traditional or ROTH).
You are already "saving" tax free. The value of your investment property grows tax free until you sell - -
?
You can put your income into a Roth IRA account and it can provide tax benefits for the growth of the investment.
ag318pun
Check out this link for self employed people.
http://www.ehow.com/how_14015_retirement-self-employed.html