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If I have a traditional IRA that is NOT through my employer and I contribute $25 every 2 weeks is this a nondeductible contribution?

 
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MindyB
Expert Alumni

If I have a traditional IRA that is NOT through my employer and I contribute $25 every 2 weeks is this a nondeductible contribution?

It depends- if your income is too high to deduct the IRA contribution, then yes, it is.  Or, you may opt to make it non-deductible.  Usually this is done if you wish to convert it to a Roth IRA.  Finally, if you wish to deduct this IRA contribution, then no, it is not a nondeductible contribution.

 

Here is some more information about IRAs: Deductions Allowed for Contributions to a Traditional IRA

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