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Traditional IRA
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Roth IRA
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| (1) Qualified tax-deductible contributions* |
(1) Contributions are not tax deductible |
| (2) Tax-deferred growth; taxes paid upon withdrawal** |
(2) Tax-deferred growth and qualified tax-free withdrawals** |
| (3) Contributions allowed as long as owner has earned income |
(3) Contributions allowed as long as owner has earned income |
| (4) Required minimum distributions by age 73. (This age was |
(4) No required minimum distributions during owner's lifetime |
| increased from 72, effective January 1, 2023. |
|
| Account holders who turned 72 before that date |
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| are subject to the old rules.) |
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