Greetings, Rasheed, and welcome. You asked:<<As part of my retirement strategy, I plan to open a Roth IRA with a stock brokerage. I am a college student. Here are my questions:1. Does a new Roth IRA need to be opened in calendar year 1998 if I wish to make contributions before 4/15/99 for 1998?>>No, it does not. All that's required is that your contribution be made on or before 4/15/99 and that it clearly be designated as a contribution for tax-year 1998.<<2. If not, assuming that I have met the wages requirements, my plan is to contribute 2k for 98 and 2k for 99 contributions in early calendar 1999. If this is okay, is there anything special that I need to note on my tax return for calendar year 1998 (or calendar year 1999) since the income I invested in the Roth IRA is not tax-deductable? The reason I ask is because I have been filing 1040EZ/Telefile due to the fact that I can, and I was curious if I had to change forms because of this. I don't mind doing the 1040A or 1040 if I have to.>>Because this will be a nondeductible contribution, you must file Form 8606 with your tax returns for both 1998 and 1999 to show your deposit in those years. Form 8606 may be filed only with Forms 1040, 1040A or 1040NR. Thus, you will have to use the 1040 or 1040A for every year you make a nondeductible contribution to your IRA.<<3. On a tangent, it is good news to me that I can open a IRA with a brokerage. I currently use Suretrade for my normal account, and I am planning to create an IRA account with them (no fees to open, maintain, or close). If anyone has opened a Suretrade IRA, I am curious to know if they have had any problems linking their accounts together for the online viewing/trading purposes. Has this been relatively easy to do?>>This question is best asked over on the Discount Brokers boards where they talk about accounts and investment service issues.Regards….Pixy
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