How are contributions applied to tax deductions for IRAs?

How contributions are reported and applied to your taxes may vary. It is important to discuss any and all considerations with a tax professional.


Roth IRA

Contributions to a Roth IRA are never tax-deductible as contributions are made with after tax dollars.


Traditional IRA

Contributions to a Traditional IRA may be tax deductible depending on whether or not you (and/or your spouse, if you are married) are covered by an employer’s retirement plan.

  • Retirement plan at work: Your deduction may be limited if you (or your spouse, if you are married) are covered by a retirement plan at work and your income exceeds certain levels.
  • No retirement plan at work: Your deduction is allowed in full if you (and your spouse, if you are married) aren’t covered by a retirement plan at work.

To determine the income range in which your deduction may be disallowed if you (and/or your spouse, if you are married) participate in a retirement plan at work, please see the following:


To learn more about IRA deductions, please visit the IRS website.



This material is for informational purposes only and is not intended to be a substitute for consultation with a qualified tax professional before making decisions related to your retirement account(s). Consult a tax professional for any and all considerations. Visit the IRS website for further information.

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