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If i opened an ira in 2016 is it tax deductable?
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June 4, 2019
2:04 PM
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Retirement tax questions
That depends on what kind of IRA it was. If a ROTH IRA, then, no none of the contribution is deductible. If a Traditional IRA, then it depends on how much income you had, whether you are covered by a retirement plan at work and other factors, You should carefully read the limits on IRA deductions in IRS Pub. 590-A at this link:
http://www.irs.gov/pub/irs-pdf/p590a.pdf
June 4, 2019
2:04 PM