Does adding to my Roth IRA reduce the amount of taxes I have to pay?

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Does adding to my Roth IRA reduce the amount of taxes I have to pay?

No, contributing to a Roth IRA does not reduce the amount of taxes you have to pay on your current year Tax Return.

Unless, as dmertz pointed out below, you are eligible for the Retirement Contribution Savings Credit. Please click the link to this TurboTax FAQ for more information What is the Savers Credit?

[Edited 3/20/19|12:43PM]

Does adding to my Roth IRA reduce the amount of taxes I have to pay?

... unless it qualifies you for a Retirement Savings Contributions Credit.

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