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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: of 76908  
Subject: Re: Contribution Date: 12/11/1999 12:17 PM
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Greetings, PseudoTonal, and welcome. You wrote:

<<I will have $62,000 income for 1999 ($58,000 income and $4000 from rolling over a traditional IRA into my wife's Roth). My wife has $0 income. I contribute 15% to my 401k, but only started this in October. My broker says I cannot contribute to my Roth IRAs since I make over $30,000 and contribute anything at all to a 401k.

This sounds wrong. I believe that I may contribute fully to both IRAs and fully to my 401k.>>

It is wrong. Fire the broker. You may still contribute to your Roth IRA. Further, you may do so for your spouse's Roth IRA as well. In fact, you may contribute a fully deductible $2K to a traditional IRA for your spouse should you so desire. For details, see our IRA area at http://www.fool.com/Money/AllAboutIRAs/AllAboutIRAs.htm.



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