What type of ira is best to contribute to to decrease current tax liability

[MarilynG1]

Contributions to a Traditional IRA will decrease your tax liability.

You can test this by going to Deductions & Credits > Retirement and Investments > Traditional Roth and IRA Contributions.

Enter a Traditional IRA Contribution Amount (between Jan 1 and April 18, 2023).

Continue to a screen where TurboTax will show your IRA Deduction Amount. 

Here's more info on Last Minute Ways to Reduce Your Taxes.

@knewlin87 

[fanfare]

For best results in retirement, put your retirement funds into a self-directed Roth IRA.

the tax savings then will far exceed any tax savings now with a different type of IRA.

@knewlin87