Which of the following is a difference between traditional IRAs and Roth IRAs?

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Contributions to a Roth IRA can indeed be made after age 70½, which is a distinguishing feature compared to traditional IRAs. For individuals with traditional IRAs, the IRS had previously set a rule that required the cessation of contributions after the age of 70½. However, with Roth IRAs, there is no age limit for contributions as long as the individual has earned income. This allows for greater flexibility in retirement planning, enabling individuals to continue contributing to their Roth accounts regardless of age, which can be particularly beneficial for those who wish to maximize their retirement savings or for those who may have delayed saving.

In contrast, traditional IRAs do have income-driven tax implications and contribution limits that differ significantly from those of Roth IRAs. These constraints often result in different financial planning strategies for individuals based upon their age and income.

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