Since you are posting from self-employed then only your net self-employed income minus the deductible part of the SE tax (normally half of the SE tax) is eligible income to contribute to a IRA.
Also if the deductible part depends on the MAGI and phases out at higher income if you have a retirement plan at work such as a 401(k).
For 2019, $6,000, or $7,000 if you’re age 50 or older by the end of the year; or
your taxable compensation for the year.
(Taxable compensation is generally wages that you worked for - W-2 or net self-employed income minus the deducible part of the SE tax, but can include commissions, alimony and separate maintenance, and nontaxable combat pay ).
See IRS Pub 590A "What is compensation" for details:
https://www.irs.gov/publications/p590a#en_US_2018_publink1000230355
See this IRS link for Traditional IRA deduction limits when covered by a retirement plan at work.
https://www.irs.gov/Retirement-Plans/IRA-Deduction-Limits
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
