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I have both and would like to reap the tax deduction

2007-11-25 07:11:49 · 2 answers · asked by sunshinegirl 1 in Business & Finance Taxes United States

2 answers

No, you can go the other way, but not Roth to traditional. But if you already have a Roth IRA, you can still start or add to a traditional IRA within the yearly contribution limits, and get the deduction.

2007-11-25 07:26:17 · answer #1 · answered by Judy 7 · 2 0

No.

Even if you could, you would not get any tax deduction. Only regular contributions directly to traditional IRA's can be deducted; rollovers cannot be deducted.

2007-11-25 07:23:48 · answer #2 · answered by StephenWeinstein 7 · 2 0

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