TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 1

Question

IRA contribution for self employed

1 reply
6 views

Can I contribute to a Roth or Traditional IRA if I only have self employment income?

Alumni - Intuit

Yes, you can - self- employment income is treated as earned income for IRA purposes. As long as you have net income from your "business" and providing you meet other qualifications, I recommend that you enter your contribution(s) into the program. TurboTax will determine the maximized amount of the contribution that you will benefit from.

Note: You may want to also talk to your financial advisor or local tax professional to do some financial planning and determine the best retirement plan for you going forward...as there are more options; please see here for details.