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Deductions & credits
"1. Just withdraw the money as a regular withdrawal. Withdrawals of contributions from a Roth IRA are tax-free and have no time limits. Then, make an independent contribution to a pre-tax IRA."
This doesn't negate the Roth IRA contribution. If you just take a regular distribution of this $8,000 contribution made for 2024, you will still have already made the maximum $8,000 contribution for 2024 and you will not be eligible to contribute anything to a traditional IRA for 2024.
As Mike9241 suggests, for a majority of people the long-term tax savings resulting from eventual tax-free distribution of gains in the Roth IRA will be greater than any benefit from the tax deferral that you get with savings in a traditional IRA.
‎June 3, 2024
4:39 AM