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15 January, 17:49

What is the difference between a traditional IRA account and a Roth IRA account?

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  1. 15 January, 17:51
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    Traditional IRA contributions are tax deductible on both state and federal tax returns for the year you make the contribution, while withdrawals in retirement are taxed at ordinary income tax rates. Roth IRAs provide no tax break for contributions, but earnings and withdrawals are generally tax-free.
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