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This board really gets buzzing this time of year, eh?
Here's my situation: After changing jobs in '94, I rolled my 401K into an IRA. I didn't make any contributions to this account. In '98 I converted my rollover account into a Roth IRA. My brokerage gave me a new account number for the Roth and a small amount of interest ($19) accrued in the old account after the conversion. So now I have two accounts, a rollover IRA with $19 and a Roth IRA with much more. :-)
I was able to make a contribution to the Roth for '98, but for '99 my AGI is over $95K (I'm single) so I can't make a contribution to the Roth for last tax year and I'm quite sure I'll be in the same boat for this year.
So, here are the questions- First, there's nothing magical about my old rollover account, right? I should now be able to use this account as a non-deductible IRA.
Second, I should be able to make a $2K non-deductible contribution for 1999 and another $2K non-deductible contribution for 2000 right now, correct?
Thanks for the help. Choz
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