Hi, there. I would like to open an IRA account in the near future, but am not sure if I am eligible to do so.

I am an active participant of 401K, am married and file a joint tax return. My annual gross salary is about $41.5K and our household income ranges from 150k to 160K.

My questions are 1)If I am eligible to open either a deductible Roth or traditional IRA account. 2)Which IRA is better for me. I have heard that people with higher tax bracket don't benefits as much from Roth IRAs as from traditional IRAs. 3)the deductible abount of my contributions in my case.

I would greatly appreciate any information or advice. Thank you.