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emmalcazar
New Member

On the Roth IRA contribution tax break I electronically signed saying I authorized them to look into it & I didn't get the deduction or hear anything & Im not sure why?

Did anyone else do this? If so did it not give you the deduction even if you qualified?
1 Reply
DawnC0
Intuit Alumni

On the Roth IRA contribution tax break I electronically signed saying I authorized them to look into it & I didn't get the deduction or hear anything & Im not sure why?

Roth IRA contributions are not deductible, but contributions to traditional IRA's are deductible.  

Because you do not get a tax deduction for contributions to a Roth IRA, the money in the IRA grows "tax-free" and therefore distributions, when they begin, are also ''tax-free''.

If you have the flexibility to make either a traditional or Roth IRA contribution, then you need to weigh carefully the advantages of one versus the other.  Here is more info on the difference between these two account types:  https://ttlc.intuit.com/replies/3300134

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