There is no current tax deduction, but money going into the Roth IRA is taxed at the taxpayer s current marginal tax rate, and will not be taxed at the expected higher future. Traditional and Roth IRAs are two basic types of individual retirement accounts. If you are under 50 years of age at the end of 2012: The maximum contribution that you can make to a. Tax Planning Tips If all your traditional IRA contribution is not deductible, you might want to contribute to a Roth IRA. If you needed the money in the account, you could withdraw the. Investors must make a living income to be eligible to invest in a ROTH IRA because an IRA it in place to. You may own both types of accounts but keep in mind they are taxed differently. Named after Senate Finance Committee Chairman William V. Roth Jr., R-Del., the Roth IRA is a new version of non tax deductible IRA. You don't get the tax deduction.



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