IRA Contributions

Record contributions made to Traditional and/or Roth IRAs
  • Traditional IRA

  • EXAMPLE:

  • Est. Federal Tax Savings (assuming $5,000 contribution; not including state tax savings)

  • When you withdraw the money at retirement, you will pay tax on the original investment of $5000 and its earnings.

  • Roth IRA

  • EXAMPLE:

  • When you withdraw the money at retirement, you will NOT pay tax on the original investment of $5,000 or its earnings according to the current tax code.

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