No. of Recommendations: 0
<<I can contribute $2000 per year into an IRA. Can I put $1000 into a Roth and $1000 into an ordinary IRA for the year 1998? More generally, can I put any fraction I want into either IRA as long as it does not exceed $2000 per year.>>

Your analysis is correct. Simply keep in mind that income limits apply to both Roth and traditional deductible IRAs, but no such limit exists on traditional non-deductible IRAs.

I'm assuming that your pursuit of this strategy is so you can take advantage of an upfront tax benefit for the deductible IRA. There is little reason to contribute to a non-deductible IRA unless you are over the income limits for a Roth.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.