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Financial Planning / Tax Strategies
|Subject: Ineligible income to Roth?||Date: 1/27/2004 3:41 PM|
|Author: cheezyches||Number: 68909 of 121572|
I am currently living and working in South Africa, and only pay taxes on my income to the South African government. My wife and I will be moving back to the States in June, and I will be sure to make my 2004 tax year max contribution to our Roth IRAs (we could not contribute in 2003 because all of our earnings were foreign earned income).
I am wondering if I could make my 2004 contribution now (Jan 04), assuming that I will earn enough money from Aug to Dec. to be eligible to contribute.
My feeling is that such a move would be against the "spirit of the regulations" although perhaps not illegal based upon the way in which IRA contirbutions are accounted for (on a tax year basis).
cheezyches in Jozi
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