turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

exnoss
New Member

Why aren't my Roth IRA contributions deductible?

On the deductible amount I see a big 0. I was under the assumption that Roth IRA contributions were 100% deductible
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
DavidD66
Expert Alumni

Why aren't my Roth IRA contributions deductible?

Roth IRAs are not tax deductible.  They never have been.  However, the money in a Roth IRA grows tax free and if you wait until you're age 59 1/2 all distributions from a Roth are tax free.  So, no tax benefit now. Huge tax benefit after age 59 1/2.  A Traditional IRA or 401(k) is the opposite.  You get a tax deduction now. The funds grow tax deferred.  But when you take distributions, they are 100% taxable.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
exnoss
New Member

Why aren't my Roth IRA contributions deductible?

Thank you i did google it and I guess I confused tax advantaged Traditional IRAs with my Roth. Thanks again for taking the time

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question