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Author: dkarp Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121586  
Subject: Non-Deductible IRA Date: 12/16/1997 3:31 PM
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I'd like to take advantage of the new Roth IRA next year, and I was thinking that I could effectively start off with a maximum of $4000 instead of $2000 by making a $2000 non-deductible IRA contribution in 1997, then rolling over the non-deductible IRA into a new Roth IRA at the start of 1998.

Would this work? More than that, is this a smart move?

(Background: I'm under an employer-sponsored 401(k), so I'm not eligible to make deductible IRA contributions. [Right?] I expect to be under the $95K AGI cutoff for Roth IRA eligibility in 1998. I don't currently have an IRA, deductible or non-.)
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