Guy has a ROTH IRA. If he makes a addition to it, will that help our taxes this year?

maryshannonvieir · ‎May 31, 2019

Communications expenses for self employee - was not finished.

macuser_22 · ‎May 31, 2019

No. Roth IRA's are not deductible, only Traditional IRS's are.

Depending on other income, the Roth might result in a Retirement Savings Contributions Credit (Saver's Credit)

https://www.irs.gov/publications/p17/ch38.html#en_US_2016_publink1000174960

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post

macuser_22 · ‎May 31, 2019

No. Roth IRA's are not deductible, only Traditional IRS's are.

Depending on other income, the Roth might result in a Retirement Savings Contributions Credit (Saver's Credit)

https://www.irs.gov/publications/p17/ch38.html#en_US_2016_publink1000174960

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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Guy has a ROTH IRA. If he makes a addition to it, will that help our taxes this year?