This is archived information that pertains only to the 2000 Tax Year. If you are looking for information for the current tax year, go to the Tax Prep Help Area.
This chapter discusses the original IRA. In this publication the
original IRA (sometimes called an ordinary or regular IRA) is referred
to as a "traditional IRA." Two advantages of a traditional IRA
are:
You may be able to deduct some or all of your contributions
to it, depending on your circumstances, and
Generally, amounts in your IRA, including earnings and
gains, are not taxed until they are distributed.
