UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: NickDiG Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75633  
Subject: Roth IRA Contribution Date: 12/15/1998 12:22 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hi -

I haven't seen this on the board recently, so I thought I'd ask it here....

I'm single, and opened up a Roth IRA, and I'm planning to put $4000 into it ($2000 for '98 & $2000 for '99) about Jan 2nd. I know for a fact I'm making below the threshold for this year, but what happens if I contribute $2000 on Jan 2nd next year and I end up making more than the threshold? What are the penalties? Do I have to give any made (lost?) money back?

Thanks for your help....

Nick

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Apple

Apple and Ninety Years Ago
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 "#1 Media Company to Work For" (BusinessInsider 2011)! 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.
Advertisement