Traditional IRA contributions are tax-deductible if you meet income and eligibility requirements set by the IRS. The amount you can deduct depends on your filing status, income, and whether you or your spouse participate in a workplace retirement plan. For example, if you’re a single filer with income below the phase-out threshold, you can deduct the full contribution amount. Contributions to Roth IRAs, however, are not deductible. It's important to maintain records of your contributions to ensure they are properly reflected on your tax filings. Keep all documentation in case you need to reference it in the future to avoid any issues with IRS filings. By contributing to an IRA, you can potentially reduce your taxable income and save for retirement.