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Author: zgriner Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 78164  
Subject: Re: Roth/FF monthly contribution Date: 2/8/1999 9:53 PM
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I just opened a Roth with $4000 (for '98 and '99) and bought the FF. Can I send in a little cash to my money market sweep account every month to save for my '00 contribution? Or do I have to wait until 2000 to send them anything?

NO! You are allowed a maximum combined contribution of $2000/year for all IRA (traditional and Roth) accounts. Since you made your '99 contribution already, the best you can do is put your money aside in a taxable account. Where you choose to invest that money is up to you.

When my companies pay dividends, I'm pretty sure those go into the sweep account, too.

Unless you have told your broker otherwise, that is probably true.

Do the stock dividends and money market interest payments get counted toward next year's $2000 limit?

NO! All investment interest, & dividends are considered gains and don't count towards any contribution. Next year's $2000 must come from your earned income (i.e. job), though.

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