topic Re: What type of ira is best to contribute to to decrease current tax liability in Retirement tax questions

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

knewlin87 — Mon, 23 Feb 2026 13:47:29 GMT

MarilynG1 — Fri, 31 Mar 2023 02:33:32 GMT

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.

fanfare — Fri, 31 Mar 2023 04:22:34 GMT

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.