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Kaz13
March 11, 2021
Question

Roth IRA

  • March 11, 2021
  • 1 reply
  • 0 views

I put in $6100 I was told this would lower my adjusted gross income and it did not did I do something wrong?

    1 reply

    T
    ThomasM125
    March 11, 2021

    A ROTH IRA is not deductible from your income, so it will not reduce your adjusted gross income. A traditional IRA may reduce your income if it is deductible, which may depend on your income and other factors.

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