You Asked Us - IRA Deductibility

• Q: I am 39 years old, and eligible to deduct $ 2,000 of my traditional IRA contribution. Can I contribute the difference to a Roth IRA?
  

A: Yes. You may contribute the difference of $2,000 ($4,000- $2,000) to your Roth IRA. In fact, many individuals split their IRA contributions between both types of IRAs, so as to receive the benefits of both types of IRAs, i.e. the deductibility for the Traditional IRA contribution- if eligible, and the potential tax-free growth of the Roth IRA.

 

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