Individual Retirement Accounts » Traditional Rollover or Contributory IRAs

Deductible vs. Non-Deductible Contributions

Traditional IRA contributions can be tax-deductible depending on the individual's particular filing status, adjusted gross income, and coverage by an employer-sponsored plan.

Contributions can always be made to a Traditional IRA regardless of income levels (must have earned income). However, if the individual is contributing to an Employer-Sponsored Retirement Plan, all or a portion of the contribution may not be deductible.