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Fellow company warriors... I've spent the last 5-hours in a hotel room in Queens, NY, using Turbo Tax Deluxe and Turbo Tax State, and I have finished my taxes. Before I file them though, I have a couple of questions.

Q1: I want to rollover my $8,000 IRA from Morgan Stanley to a Schwab IRA. I'm not sure if I should set up a rollover IRA or a conversion Roth. My question is, once the IRA-or-Roth is complete, CAN I contribute another $2K to it, prior to Arpil 17, 2000?

A related question: In either case (IRA,Roth), am I allowed to take a $2,000 deduction, if I'm enrolled in my employer's 401-K? BY the way, my AGI is $65K.

I think the answer to Q#1 is that I am not allowed to contribute more than $2K total in to IRAs per year. AND I think to the answer to my related questions is that I can't deduct either way, because of the 401-K plan.

Q#2: My wife is a full-time homemaker, no income, no 401-K. I'd like to set up an IRA for her prior to April 17, 2000. I remember reading about the tax deduction on an IRA for non-working spouses, but is it for the Roth or Traditional IRA?

I think the answer here is only the Traditional IRA is tax deductible. If yes, I'm still probably going to set up the ROTH because she's young (31) and would benefit more from the ROTH in the long run. Smart?

Q#3: My annual tithe statement (church offering) is missing almost $400 in cleared checks. Do I have any recourse other than calling the church's accounting office and asking if they've made an error?


mike in va beach (well, queens,ny, tonight!)

Ps. About the IRA questions, I have read the Top 10 IRA Q&As by TMFpixy, but I still don't understand these couple of questions.

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