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Deductions & credits
Right. You do not get a deduction for a ROTH IRA only for a Traditional IRA contribution.
ROTH contributions do not give you a deduction now. You pay tax on you total income now but when you take a ROTH Distribution it will come out tax free and the earnings will be tax free too. So it grows tax free.
‎July 3, 2020
3:57 PM