Not the Roth, the tax break is for a traditional IRA contribution. If you contribute to a traditional IRA, Roth IRA contributions aren’t deductible, you may be able to deduct your contribution, depending on whether you were covered by an employer based plan and your income.
Traditional IRAs
- Retirement plan at work: Your deduction may be limited if you (or your spouse, if you are married) are covered by a retirement plan at work and your income exceeds certain levels.
- No retirement plan at work: Your deduction is allowed in full if you (and your spouse, if you are married) aren’t covered by a retirement plan at work.
These charts show the income range in which your deduction may be disallowed if you or your spouse participates in a retirement plan at work:
2023
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
