Is it possible to have multiple cdira accounts and be able to contribute to an existing traditional IRA to reduce taxable income?

[VolvoGirl · Accepted solution]

Yes if you have earned income to contribute and qualify to contribute.   See IRS Pub 590-A IRA Contributions

https://www.irs.gov/pub/irs-pdf/p590a.pdf

[Critter-3]

Just for informational purposes ... banks have a bad habit of calling these  CD IRA accounts (which are not a real thing)  when they really are an IRA which is invested in a CD.   You can have as many separate IRA accounts invested in many different things  but  the IRS  considers all the separate  IRA accounts as ONE combined account for income tax and RMD  purposes. 

When you get to the time when RMDs are required each individual IRA account custodian  will send the RMD amount for that individual account  and the IRA owner needs to take out the total RMD amount in that tax year however they can choose where to take out the RMD ... for instance say you have 3 IRA accounts and each report an RMD of $500 so the total annual RMD is $1500.  The IRS allows you to take the $1500 from any IRA account you have at your discretion meaning you could take the entire $1500 from just one IRA because again the IRS considers all the separate IRA accounts to be simply parts of a single IRA.