Single, unemployed, investor, eligible to contribute to IRA in 2006?

Last job gross paycheck less than $500 paid in Jan 2006. Current income only from capital gains (from trading) & some interest. Assuming no other employment in 2006, is this unmarried person still eligible to contribute to a Standard or Roth IRA this year? Thanks!

You can only contribute to an IRA from "earned income" up to certain limits depending on your age. Capital gains and interest does not count toward earned income. If all you earn in 2006 is $500 then you can put that $500 into an IRA but no more then that.

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