What are you deciding?
A traditional IRA may offer a deduction now, with taxable withdrawals later. A Roth offers no deduction now; qualified withdrawals are tax-free. An IRA is a retirement-saving option, not a requirement. Workplace plans and other savings may also matter.
Use sample values or your own numbers. Inputs are not saved to an account; reloading resets this calculator. Downloaded or printed reports contain your entered information; protect them.
Bring the question to your team.
Complete a comprehensive review with a CEPA-credentialed, Q4-trained financial advisor, coordinated with a qualified CPA or tax professional. Confirm eligibility, tax cost, cash needs and withdrawal rules before acting.
This educational tool does not book appointments or provide personal advice.
Official rule sources · 2026 tax year
- IRS 2026 IRA limits and income ranges
- IRS Publication 590-A: contribution, deduction and MAGI worksheets
- IRS Form 8606: basis and conversions
- IRS Publication 590-B: withdrawals and five-year rules
Reviewed October 23, 2026. A rule screen is not a completed tax return.