Will I pay tax twice if I contribute to IRA from bank account?
No, contributing to an IRA (Individual Retirement Account) from your bank account does not mean you will be taxed twice.

If you're contributing to a traditional IRA, your contributions are typically made with pre-tax dollars meaning you get a tax deduction for the amount you contribute. Taxes will be due when you withdraw the money in retirement, so you're not taxed twice.

If you contribute to a Roth IRA, you use after-tax dollars. So, you've already paid taxes on the funds you're contributing. The benefit is that your withdrawals in retirement from a Roth IRA will typically be tax-free, again not resulting in double taxation. 

However, it's always recommended to speak with a tax professional or financial advisor to understand the nuances of your personal financial situation.
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Will I pay tax twice if I contribute to IRA from bank account?

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No, contributing to an IRA (Individual Retirement Account) from your bank account does not mean you will be taxed twice.

If you're contributing to a traditional IRA, your contributions are typically made with pre-tax dollars meaning you get a tax deduction for the amount you contribute. Taxes will be due when you withdraw the money in retirement, so you're not taxed twice.

If you contribute to a Roth IRA, you use after-tax dollars. So, you've already paid taxes on the funds you're contributing. The benefit is that your withdrawals in retirement from a Roth IRA will typically be tax-free, again not resulting in double taxation. 

However, it's always recommended to speak with a tax professional or financial advisor to understand the nuances of your personal financial situation.<eos_token>