SECURE Act IRA deduction
The SECURE Act removed the age limits on contributions to a traditional IRA. Will the deduction for a traditional IRA contribution apply at any age? Thank you.
The SECURE Act removed the age limits on contributions to a traditional IRA. Will the deduction for a traditional IRA contribution apply at any age? Thank you.
Permalink Submitted by Alan - IRA critic on Tue, 2019-12-24 16:01
Yes, the TIRA deduction is determined in the same manner as in the past. One of the benefits of removing the age limit for upper income people who have earned income is to be able to do back door Roths, but if there is any pre tax TIRA value, the benefit of the back door is muted.