DavidD66
Expert Alumni

Retirement tax questions

Roth IRAs are not tax deductible.  They never have been.  However, the money in a Roth IRA grows tax free and if you wait until you're age 59 1/2 all distributions from a Roth are tax free.  So, no tax benefit now. Huge tax benefit after age 59 1/2.  A Traditional IRA or 401(k) is the opposite.  You get a tax deduction now. The funds grow tax deferred.  But when you take distributions, they are 100% taxable.  

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