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New Member
posted Feb 1, 2021 11:37:50 AM

Does a CD IRA count as opening and contributing to a Traditional IRA for tax deduction?

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1 Replies
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.)