Traditional ira capital gain only

[gb1]

If my only income is from stock sales (1099-B), can I open a traditional ira and contribute to reduce taxes?

[DoninGA · Accepted solution]

You must have some type of taxable compensation to contribute to an IRA.  Investment sale income is not compensation.

[VolvoGirl · Accepted solution]

No.  You need Earned income from working W2 or a net profit from self employment on schedule C.