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Retirement tax questions
No, it should not have changed your tax due unless you are eligible for the Saver's Credit. Since a Roth IRA is funded with after-tax dollars, it does not change your taxable income for this year. If you wanted to lower your taxes this year, you would contribute to a traditional IRA and your contribution would reduce your taxable income. For more information, see the differences between a Roth and a Traditional IRA here.
‎February 9, 2022
8:47 AM