Question

Contributions to which type of IRA are tax deductible?

a)Traditional IRA
b)Roth IRA

Answer 1

A i known
Very easy

Answer 2

The correct answer is letter "A": Traditional IRA.

Step-by-step explanation:

A Traditional IRA is a tax advantage retirement account that includes stocks, bonds, mutual funds, and other types of investments. Its primary benefit relies on the opportunity of investing with pre-taxed income. Though, traditional IRAs are taxed as ordinary income once withdrawals are taken.