Traditional IRAs

A traditional IRA is a way to save for retirement that gives you tax advantages.

• Contributions you make to a traditional IRA may be fully or partially deductible, depending on your filing status and income, and
• Generally, amounts in your traditional IRA (including earnings and gains) are not taxed until you take a distribution (withdrawal) from your IRA.

See IRA Resources for links to videos and other information on IRAs.

Publication 590-A and Publication 590-B explain the details of IRAs including:

• Setting up an IRA
• Contributing to an IRA
• Transferring money or property to and from an IRA
• Handling an inherited IRA
• Receiving distributions (making withdrawals) from an IRA
• Taking a credit for contributions to an IRA
• A comparison of traditional and Roth IRAs