An IRA stands for an Individual Retirement Account. Traditional IRAs are potentially deductible, but Roth IRAs are not. The advantage of Roth IRAs is that they are not taxable when withdrawn because you pay your tax now. Please see this FAQ with a broader consideration: https://ttlc.intuit.com/replies/3300134
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
