Is Roth IRA Same As Traditional IRA? 
Individual retirement accounts -LRB- IRA -RRB- are allowed under the Internal Revenue Code -LRB- IRC . -RRB- The primary difference between a Roth IRA and a regular IRA is when money is taxed . Deposits in a regular IRA are deductible from current income tax ; deposits to a Roth IRA are not . In both cases the interest earned on the accounts is not currently taxable . When all the necessary conditions are met , withdrawals from a regular IRA are taxed as earned income in the year received . Withdrawals from the Roth IRA are free of any income tax . There are other differences that affect estate planning and required distributions . 