TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 2

Question

Roth IRA

5 replies
34 views

Can I contribute to a Roth IRA for tax benefit, or only Traditional IRA.

In turbotax, it states tax break only applies to 2019 traditional IRAs, not Roth IRAs

Level 15

Roth IRA contributions are not tax deductible.

PC11_2Author

Level 2

Did this change, I am asking because I created a Roth IRA last year and contributed $6000, and receeved a tax break.

Level 15

@PC11_2 wrote:

Did this change, I am asking because I created a Roth IRA last year and contributed $6000, and receeved a tax break.

You may have received a Retirement Savings Contributions Credit (Saver's Credit) for contribution to a retirement saving account. Go to this IRS website for the Saver's Credit - https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-savers-credit

Since the inception of the Roth IRA the contributions have never been deductible on a tax return.

Go to this IRS website for a Roth IRA - https://www.irs.gov/retirement-plans/roth-iras