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solrize , 8 months ago to Personal Finance in Do you basically get double taxed if you make non deductable contributions to a traditional ira? Why do it? 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.
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.