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February 20, 2022
Question

roth irA

  • February 20, 2022
  • 1 reply
  • 0 views

Both husband and  i contributed  7000.00 each for roth ira, says 0 deduction. I DONT BELIEVE THIS IS CORRECT. Please advise

 

 

    1 reply

    DoninGA
    Employee
    February 20, 2022

    Contributions to a Roth IRA are not deductible.  Only contributions to a Traditional IRA may be deductible on a tax return.

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

    • You cannot deduct contributions to a Roth IRA.
    Wojos5 Author
    February 20, 2022

    thank you