Retirement tax questions

A traditional IRA is deductible on your return, however when you take the money (when retired) out iit s taxable to you.

A Roth is not deductible but grows tax deferred but when you reach 59 1/2 later is not taxed.

Both are very good, both grow tax deferred.

I would enter a deduction in TurboTax for a Traditional IRA and see the tax impact, as this will help you decide.

https://ttlc.intuit.com/replies/3300134

View solution in original post