Comparison of Roth IRA and Traditional IRA
Comparison of Roth IRA and Traditional IRA
Roth IRA | Traditional IRA | |
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Is there an annual contribution limit? |
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Is there an age limit to make a contribution? |
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Are there income limits on the ability to make nondeductible contributions? |
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Are contributions deductible?* |
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Are there minimum distribution requirements? |
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How are withdrawals taxed after age 59½?* |
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How are withdrawals taxed before age 59½?* |
Contributions are withdrawn tax free
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Withdrawals are subject to tax and a 10% penalty unless you qualify for an exception. |
Can I convert my IRA? |
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Disclosures:
1. Effective Jan 1, 2019 individual annual contribution limit is raised from $5,500 to $6,000.
* Consult your tax advisor for advice.
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May lose value |
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