The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Opening Roth IRA for 2000 & 1999 Date:  2/28/2000  11:38 AM
Author:  pmarti Number:  30270 of 124779

<< If I open a Roth IRA for 2000 & 1999 this year before April 17th, do I deduct the total $4,000 in the taxes due for year 2000? Afterall, I am paying for the two years with the money I have made from this year 2000. >>

Roth IRA contributions are not deductible.

Phil Marti
Tax Preparer
Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us