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Author: jm4t Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76421  
Subject: $3000 IRA limit beginning 2001? fact or fiction Date: 5/27/2000 1:46 PM
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The Fool's Investment Tax Guide 2000 says that "beginning in 2001, the contribution limit would increase to $3000 and would eventually reach $5000 by 2006" (p. 38). Is this for real? Someone questioned my earlier post about this piece of info., but I only got it from the Fool's Investment Guide.
Can anyone confirm this?


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Author: TMFExRO Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 22240 of 76421
Subject: Re: $3000 IRA limit beginning 2001? fact or fict Date: 5/27/2000 6:21 PM
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<< The Fool's Investment Tax Guide 2000 says that "beginning in 2001, the contribution limit would increase to $3000 and would eventually reach $5000 by 2006" (p. 38). Is this for real? Someone questioned my earlier post about this piece of info., but I only got it from the Fool's Investment Guide.
Can anyone confirm this? >>

I questioned the $3,000 in an earlier post somewhere; don't know if it was yours. I don't have a copy of the Guide handy. Could you double-check to make sure Roy wasn't talking about a PROPOSED contribution limit?

I just checked the most recent online version of the U.S. Code that I know of, and it still shows $2,000 with no enacted revisions for future years.

Roy's on vacation, but I'm e-mailing a copy of this post to him for when he returns. Perhaps he can sort it out for us.

Thanks for providing the source of the $3,000 figure.

TMF ExRO
Phil Marti

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Author: MasterQi Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 22241 of 76421
Subject: Re: $3000 IRA limit beginning 2001? fact or fict Date: 5/27/2000 8:45 PM
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Is this for real?



FWIW, I'm keeping my fingers crossed!!

MasterQi

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Author: jm4t Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 22245 of 76421
Subject: Re: $3000 IRA limit beginning 2001? fact or fict Date: 5/28/2000 3:44 PM
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O. K., Phil, I doublechecked the Fool's Tax Guide 2000. It says that this is only one of the proposed tax changes pending approval. So it's still up in the air, and given Washington politics, it could drag on for quite some time. If I have raised false expectations, I apologize for that. FYI, read the Fool's Tax Guide, pp. 38-39. In any case, we definitely would want to keep an eye on that. But it's strange that such important tax change proposals don't get hyped up by the media.


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Author: TMFExRO Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 22252 of 76421
Subject: Re: $3000 IRA limit beginning 2001? fact or fict Date: 5/29/2000 8:05 PM
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<< O. K., Phil, I doublechecked the Fool's Tax Guide 2000. It says that this is only one of the proposed tax changes pending approval. So it's still up in the air, and given Washington politics, it could drag on for quite some time. >>

THAT is an understatement. Various changes to the allowable IRA limits are in a number of bills, only one of which has gone anywhere. That was a big bill that Congress passed and the President vetoed. As I always do regarding legislation, I encourage people who are interested in this to write their members of Congress. Especially in an election year, they're interested in your concerns.

Thanks for providing the additional information.

TMF ExRO
Phil Marti

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