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Subject:  Re: New 2002 Roth Contributions Date:  1/11/2002  3:16 AM
Author:  mplynch Number:  33245 of 88063

The Roth is already nondeductible, so it means nothing to that vehicle.

In otherwords, I can contribute $3000 this year, being a Californian?


As the law currently reads, you cannot. Under current law, contributing $3,000 to your ROTH IRA would open it up to disqualification and penalties from California.

There are tax gurus out there that suggest you contribute the first $2,000 to your existing IRA, and put the next $1,000 into a new IRA, simply to keep the amounts segregated until it becomes clearer what California will do.

Michael Lynch, CPA
Stockton, CA

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