non-deductible IRA


A type of individual retirement savings account which allows contributions that cannot be deducted when filing income tax forms. For example, a Roth IRA does not allow tax deductible contributions; however, the balance in the account may grow tax-free while funds remain in the account. In typical company-sponsored plans, an employee is allowed tax deductible contributions only if his adjusted gross income is below a specific amount.
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nondeductible contribution non-deliverable forward