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Author: msmallz Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121150  
Subject: IRA Questions Date: 2/16/2000 9:05 AM
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I have recently started a regular mutual fund and I would also like to
start an IRA fund but at this time I am a bit strapped for cash. Since
this is tax time would it be beneficial for me to transfer lets say
$1000
of my current mutual fund into a traditional IRA account then use that
amount as a deduction. I do know the benefits of the Roth IRA so I
would
like to convert the traditional IRA to a Roth IRA sometime after the
April
1 deadline. Would the potential penalties outweigh the immediate
benefits?
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