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FoolinUpNorth wrote,
I'm not positive on this, but I thought that she couldn't open an account now, and fund it for 1999. It's my understanding that the account has to be opened/established by December 31, 1999 in order to make a 1999 contribution to it (as long as the account is opened by then, you can still make a 1999 contribution up until April 17th). So if she doesn't have an account OPENED already, she can only make the year 2000 contribution to a new account.
Am I confused?

Yes, you are confused...You don't need to have opened an IRA account by the end of 1999 to be able to fund it for 1999. The only deadline is the tax one (April 17, 2000 this year).

So as long as an account is opened/funded by April 17, 2000, the contribution CAN be put in for 1999. But after that deadline, only year 2000 contributions can be made.

As an aside, and with regard to taxes, you wouldn't even necessarily have to wait to file taxes before contributing to the prior-year's IRA. So if you knew that you'd be contributing $2000 to a traditional IRA for year 1999, you could prepare your taxes for 1999 and file them accordingly (even taking the deduction if appropriate) before you actually sent the money in to the IRA.

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