The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Roth Contributions||Date: 9/25/1998 3:10 PM|
|Author: GeekFoolBoy||Number: 5638 of 81992|
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,
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|