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URL:  http://boards.fool.com/greetings-james-and-welcome-you-wrote-11461865.aspx

Subject:  Re: F4 and IRA limit Date:  11/3/1999  12:09 PM
Author:  TMFPixy Number:  15071 of 74759

Greetings, James, and welcome. You wrote:

<<I have read that an IRA is perfect for the F4 startegy. I will be starting a F4 port this year and have much more than the $2000 annual limit I can put into an IRA. What can I do?

Open an IRA account with the $2000 and put the rest in a taxable account? Then move another $2000 every year from the taxable account into the IRA account?

Can I put more than $2000 into an IRA but only deduct the $2000 from my taxes?>>


You don't say where that money is coming from, so I assume it's now in something taxable. Thus, assuming you have the earned income of at least that amount, you may only contribute a maximum of $2k to your IRA. You may not contribute more than that unless you wish to pay penalties and end up in a big hassle with the IRS.

Regards..Pixy
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