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lota12
New Member

question on roth contribution

I decided to contribute to my roth ira I put the suggested amount but it didn't lower my taxes?

Can someone review my taxes?  I am in the review status and saved my file.  

Pls call me  

Thanks,

Lori

[phone number removed]

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2 Replies

question on roth contribution

There is no tax tax deduction on Roth contributions.

When you collect your distributions, you are not taxed on them at that time.

FangxiaL
Expert Alumni

question on roth contribution

If saving taxes is your goal and your income still allows you to take a deduction, you should contribute to your Traditional IRA account. This will lower your income tax. 

 

@lota12

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