How do IRAs Differ?
The key differences between a Traditional IRA and a Roth IRA are: • Contributions to Traditional IRAs may be tax deductible, but distributions are taxable. • Contributions to Roth IRAs are never deductible, but distributions are completely tax free if the Roth IRA has been held five years and the account owner has either attained age 59½, is deceased, becomes disabled or uses the proceeds up to $10,000 (lifetime maximum) for a “first-time” home purchase.
