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Author: AirCal Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75781  
Subject: Over AGI limit? Date: 3/3/1999 9:58 PM
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Last year I opened Roths for my wife and myself, contributing $2000 to each account with an joint annual income of approximately $120K. This year I contributed $2000 to each account in January. My financial situation has improved, and it looks as if I could possibly exceed the $150K AGI limit and maybe even the $160K phase out limit (!). If so, will I be in trouble from the IRS stormtroopers? Can I invest this year's $2000, make wads of dough in the market, then in 2000 apologize and withdraw the $2000 without penalty if I in fact hit the big time this year?
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