In the US, if you make a lot, are covered by a work retirement account or you contribute to a Roth, you can’t deduct traditional ira contributions right?...
As I understand it, the interest income is tax deferred while it is still in the IRA. So over a long period it can appreciate a lot more than if taxes were being taken out every year.
Do you basically get double taxed if you make non deductable contributions to a traditional ira? Why do it?
In the US, if you make a lot, are covered by a work retirement account or you contribute to a Roth, you can’t deduct traditional ira contributions right?...