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Traditional IRA

A traditional IRA is a personal savings plan that gives you tax advantages for setting aside money for retirement.

Contributions you make to a traditional IRA may be fully or partially deductible, depending on your circumstances and
Generally, amounts in your IRA (including earnings and gains) are not taxed until distributed.

IRS Publication 590 explains the nuts and bolts of IRAs including:

Setting up an IRA
Contributing to an IRA
Transferring money or property to and from an IRA
Handling an inherited IRA
Receiving distributions (making withdrawals) from an IRA
Taking a credit for contributions to an IRA
A comparison of traditional and Roth IRAs

It also explains the penalties and additional taxes that apply when the rules are not followed. To assist you in complying with the tax rules for IRAs, Publication 590 contains IRA worksheets, sample forms, and tables.

Investing your traditional IRA in a way that makes the most sense for your circumstances is easier with the information from the Securities and Exchange Commission (SEC).

Taxation of pension income - including distributions from traditional IRAs - is covered at Link and Learn Taxes, a self study course on the IRS web site.

More Traditional IRA Resources

Publication 571, Tax-Sheltered Annuity Plans (403(b) Plans)
Publication 575, Pension and Annuity Income
Publication 939, General Rule for Pensions and Annuities
Publication 560, Retirement Plans for Small Business (SEP,SIMPLE, and Qualified Plans)
Frequently Asked Questions about Traditional IRAs
IRS Forms and Publications for your Traditional IRA