IRS Tax Forms  
Publication 590 2001 Tax Year

Introduction

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:

  1. You may be able to deduct some or all of your contributions to it, depending on your circumstances, and
  2. Generally, amounts in your IRA, including earnings and gains, are not taxed until they are distributed.

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