Does a CD IRA count as opening and contributing to a Traditional IRA for tax deduction?
01232
1 Replies
macuser_22
Level 15
Feb 1, 2021 11:40:58 AM
Yes if it is new contribution and it is a Traditional IRA (ask the IRA custodian). A CD IRA is just the name of a Traditional or Roth IRA that contains a CD as it's only asset.)