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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There is no tax tax deduction on Roth contributions.
When you collect your distributions, you are not taxed on them at that time.
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.
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