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IRAs | Roth IRAs

Unlike a Traditional IRA, the contributions made to a Roth IRA are always on an after tax basis and cannot be deducted for tax purposes. However, the growth achieved through the investment returns and the subsequent qualified distributions are tax free. Roth IRA owners who are at least 50 years old in 2011 or 2012 can contribute an additional $1,000 per year. The contribution limit to a Roth IRA must be reduced by Traditional IRA contributions.