Individual Retirement Accounts - Traditional IRAs

This handout discusses the tax advantages and rules of traditional IRAs. It also includes the phaseouts for deducting contributions for taxpayers who are also covered by an employer-sponsored plan.

HIGHLIGHTS: 

1. Contribution limits.

2. Rules of a traditional IRA.

3. Reduced IRA deductions.

4. Required minimum distribution rules.

CLIENTS WHO MAY BENEFIT:

1. Taxpayers who want to understand the benefits and rules of a traditional IRA.

2. Taxpayers who want to understand the benefits and rules of a traditional IRA.