Traditional IRA

Q: What is Traditional IRA?

Traditional IRA — Tax-deferred retirement account (US). A Traditional IRA contribution may be deductible in the year you contribute (phase-outs apply).

Definition

What is Traditional IRA?

A Traditional IRA contribution may be deductible in the year you contribute (phase-outs apply). Growth is tax-deferred; withdrawals at 59½+ are taxed as ordinary income. RMDs begin at 73.