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Author: TMFJeff Big funky green star, 20000 posts Old School Fool CAPS All Star SC1 Red Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75339  
Subject: Basic ROTH Question Date: 6/23/2003 10:09 AM
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Hello everyone!

I'm looking for information about the ROTH (or a traditional IRA, too). With a married couple filing together, can each individual put $3,000 into a ROTH (assuming their income is below the limit of course), or is the married couple limited to just one $3,000 IRA?

Thank you for help,

Jeff
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Author: reallyalldone Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 36599 of 75339
Subject: Re: Basic ROTH Question Date: 6/23/2003 10:42 AM
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I'm looking for information about the ROTH (or a traditional IRA, too). With a married couple filing together, can each individual put $3,000 into a ROTH (assuming their income is below the limit of course), or is the married couple limited to just one $3,000 IRA?

This is kind of a strange post for someone who writes for TMF. The "I" is for Individual and it's per person but you may want to look at Pub 590 at www.irs.gov or even the TMF info on IRAs.

rad


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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 36600 of 75339
Subject: Re: Basic ROTH Question Date: 6/23/2003 10:46 AM
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Jeff asks:

I'm looking for information about the ROTH (or a traditional IRA, too). With a married couple filing together, can each individual put $3,000 into a ROTH (assuming their income is below the limit of course), or is the married couple limited to just one $3,000 IRA?

Provided at least one of you has sufficient earned income (consider that wages from work), then both of you may contribute to your own IRAs (traditional or Roth). You will find the details in our IRA Area at http://www.fool.com/money/allaboutiras/allaboutiras.htm and IRS Publication 590 (Individual Retirement Arrangements) available for download at http://www.irs.ustreas.gov/forms_pubs/pubs.html.

Regards...Pixy

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Author: TMFJeff Big funky green star, 20000 posts Old School Fool CAPS All Star SC1 Red Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 36601 of 75339
Subject: Re: Basic ROTH Question Date: 6/23/2003 10:50 AM
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rad,

Thank you for the response. "Individual" or not, I put nothing past the government. :)

I've read the Fool's information and information elsewhere, but I haven't seen a clear answer to the question. Most places just say there's a $3,000 limit (without saying if that's really $6,000 for a married couple via two IRA accounts).

It may be a strange question for a TMF employee, but remember, we don't know everything -- not by a long shot. We're here to learn -- always learning -- and to help others, too. I focus on stock investing and analysis, so I do feel I have a lot of knowledge there. I regularly visit the Fool's personal finance area to learn about P.F. topics, though, and happily so. :)

Fool on,
Jeff

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Author: TMFJeff Big funky green star, 20000 posts Old School Fool CAPS All Star SC1 Red Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 36602 of 75339
Subject: Re: Basic ROTH Question Date: 6/23/2003 10:53 AM
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Thanks, Pixy!

Now our savings plans have been forced to become more aggressive.

(See -- what a great place to learn.) :)

Fool on!

Jeff

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Author: rosietomato Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 36613 of 75339
Subject: Re: Basic ROTH Question Date: 6/25/2003 5:40 PM
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The key is that they file a JOINT tax return! My DH and I got stuck two years ago (when we got married). We both had individual Roths but filed separate returns. Had to roll over that years' Roth to traditionals. We have filed jointly last year and were able to keep our (individual) Roths funded each to the max.

Does that answer your question?

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Author: ZspeedZ Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 37006 of 75339
Subject: Re: Basic ROTH Question Date: 8/22/2003 2:37 PM
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Both me and my wife contribute $3000 each.

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