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Can You Make a Deductible IRA Contribution?

Writer's picture: Derick CoffeyDerick Coffey

There are many people who do not have access to an employer-sponsored plan but would still like to save for their retirement. If it makes the most sense for them to save on taxes now, then a Traditional IRA may be the way to go. Before sinking any money into the IRA, it would be prudent to look into the ability to deduct the contribution.


This flowchart, and your accountant, can help you determine if your contribution to a Traditional IRA is tax-deductible.



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