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**RM**
**RM** asked in Business & FinancePersonal Finance · 7 years ago

How do I save money in an IRA?

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?

3 Answers

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  • Jack
    Lv 6
    7 years ago
    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 - -

  • ?
    Lv 7
    7 years ago

    You can put your income into a Roth IRA account and it can provide tax benefits for the growth of the investment.

  • ag318pun
    Lv 7
    7 years ago

    Check out this link for self employed people.

    http://www.ehow.com/how_14015_retirement-self-empl...

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