Are Roth IRA contributions tax deductible?

Answer Roth IRA contributions are not tax deductible. However, all of the money in a Roth IRA can be withdrawn tax-free, including the earnings, when you are 59 1/2 years old and the account has been open... Read More »

Top Q&A For: Are Roth IRA contributions tax deductible

How to Withdraw Roth IRA Contributions?

A Roth IRA is an individual retirement account that differs from a traditional IRA by receiving a tax break on the money when it is withdrawn from the account, rather than when it is deposited. The... Read More »

How to Withdraw Excess Roth IRA Contributions?

Having a Roth IRA lets you save money for retirement in the United States. IRA may stand for Individual Retirement Account or Individual Retirement Annuity. The distinction depends on whether you h... Read More »

Can Roth Contributions Come out Tax-Free?

Contributions to a Roth IRA can be redeemed tax-free, provided the funds are "qualified distributions." Funds redeemed after age 59 1/2, used to purchase or rebuild a home, or for medical reasons a... Read More »

How do I calculate excess Roth contributions?

Check the Tax LawVisit the IRS website and check the current year's tax law for the maximum Roth maximum contribution limits allowable for that tax year. In 2010, the IRS states that the maximum an... Read More »