What Are the Major Differences Between the New IRAs and the Traditional

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The Answer is All three of them are on a tax-deferred basis for individuals.They are separate from any employer plan.The traditional IRA can be fully tax-deductible,partially tax-deductible,or not tax-deductible,depending on the amount of your earnings and whether your spouse or you yourself have a company retirement plan.The Roth IRA does not have tax-deductible contributions,but rather has tax-free withdrawals upon retirement.The Coverdell Education Savings Account (Education IRA)is just like the Roth IRA except that contributions are limited to $2,000 annually per child for each child younger than 18.

What Are the Major Differences Between the New IRAs and the Traditional

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