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federal tax reduction: Original post by Mark Kennan of Demand Media You can claim the retirement savings credit on Form 1040. http://photos2.demandstudios.com/DM-Resize/photos.demandstudios.com/getty/article/81/86/78487330.jpg?w=700&h=700&keep_ratio=1 Comstock/Comstock/Getty Images Unlike traditional IRAs, you cannot report the amount of your contribution to a Roth IRA as an income tax deduction to reduce your…

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