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| Subject: Roth Contributions | Date: 9/25/1998 3:10 PM | |
| Author: GeekFoolBoy | Number: 5638 of 72252 | |
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I think I know the answer to this, but I want to double-check with you nice people to make sure I'm not going to do something foolish when I'm trying to do something Foolish. This year I changed jobs and rolled my 401(k) to a Rollover IRA which I have subsequently converted to a Roth Conversion IRA (held by Fidelity). Now, before the tax year is over, I want to make an additional contribution to my Roth. So my questions are: 1) Am I allowed to make the contribution having done a conversion this year? 2) If so, are there any limits on the amount I can contribute (except the obvious 2,000 annual limit for Roths)? I contributed to my 401(k) from January to May of this year. I believe that for my situation, I'm allowed to make the full 2,000 Roth contribution this year and I can put it in the same Roth that I converted. Is there any reason I wouldn't want to do this? Thanks in advance, -GeekFoolBoy |
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