<prompt> Human: Worked odd jobs like selling honey on the side and working on a tree farm. Saved up around 15,000. I opened a IRA with vanguard and I would love to contribute 5,500 for this year to my retirement fund. Should I claim my self as self - employed and pay those taxes in order to put funds in my IRA? Or just invest in a taxable account and not pay the tax.  <response>: Of course you should report the income and pay the taxes. Not doing so is against the law. 