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|Subject: IRA contribution limits||Date: 12/1/1999 10:53 AM|
|Author: JakeBar||Number: 15785 of 75793|
A colleague told me that he trades most of his stocks in a traditional IRA. He is not eligible for the tax deductions but he still places tens of thousands of dollars into it every year. He explained that this is because the interest etc is tax free until withdrawal.
Does this sound correct? Excuse my ignorance but I thought that you cannot put more than $2,000 dollars per year into an IRA regardless of whether it can be deductible or not.
Could somebody please explain?
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