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Traditional IRA Benefits

Understand the tax deductions and other benefits for the 2024 and 2025 tax years.

By Motley Fool Retirement Team – Updated Nov 24, 2024 at 5:02PM

Key Points

  • Traditional IRA contributions may be tax-deductible, depending on your income and whether you have a workplace retirement account.
  • Earnings in an IRA, including dividends and gains, are not taxed until withdrawal.
  • IRAs allow you to invest in a wide variety of stocks, bonds, and funds, offering flexibility.
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