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Financial Planning / Tax Strategies


Subject:  To IRA or not to IRA Date:  2/9/2001  7:15 PM
Author:  cherukan Number:  46084 of 123001

I recently found that I am not eligible to make a deductible contribution to my traditional IRA because my employer has a 401k account ( to which I started contributing from Dec 15, 2000 ). Now what do I do with the $1000 that I already sent my IRA broker this year towards last year's contribution ? Should I take it back? The stock that money bought has fallen in value since I put it in, so withdrawing would set me back by about $20