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pinetreestl
New Member

Which IRA account should I open to reduce the 2100 I owe in federal taxes.

 
2 Replies
MaryK1101
Expert Alumni

Which IRA account should I open to reduce the 2100 I owe in federal taxes.

You will need to contribute to a traditional IRA.  If you qualify, the deductions reduce your income.

 

See Deductions Allowed for Contributions to a Traditional IRA .

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fanfare
Level 15

Which IRA account should I open to reduce the 2100 I owe in federal taxes.

Do not open an IRA to reduce your income tax.

You must put in many times more than you get back in a refund.

Then where are you? You can't touch that money you put in there.

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