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yasmeenn
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Are all traditional IRAs non-deductible?

 
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Phillip1
New Member

Are all traditional IRAs non-deductible?

Generally traditional IRA contributions are deductible. However, if the taxpayer or the spouse has a retirement plan at work, the deduction may be limited or completely disallowed. The taxpayer may also choose to forego the deduction if the wish to establish basis in the IRA (for example, if they are considering a conversion to a Roth IRA).

See the following link for Traditional IRA deduction limits.

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Phillip1
New Member

Are all traditional IRAs non-deductible?

Generally traditional IRA contributions are deductible. However, if the taxpayer or the spouse has a retirement plan at work, the deduction may be limited or completely disallowed. The taxpayer may also choose to forego the deduction if the wish to establish basis in the IRA (for example, if they are considering a conversion to a Roth IRA).

See the following link for Traditional IRA deduction limits.

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