Quote:
Originally posted by Rudey
Not everyone qualifies for a traditional IRA do they? - but they can do Roth 
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True, not everyone can do a traditional IRA. Depends on your age, income and whether you have an employer funded retirement, I believe. That's why I said that the info assumed that you have/qualify for the traditional IRA.
Doing this with a Roth doesn't really have the same impact. The Roth is not tax deductible.
The neat part about doing it with the traditional IRA is that the deduction actually pays for the contribution to the traditional IRA. Make sense?