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Author: foolmeat Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75337  
Subject: roth ira -- income exceeded Date: 1/11/2000 5:37 PM
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This is my first day to visit the Fool and am very impressed, in fact, overwhelmed! I have been jumping around for hours but do not seem to find an answer to
my question: I have found that my income has exceeded the limits to allow me to have a Roth IRA. I had set one up in January of 1999. The $2,000 has grown to a little over $4,000. What should I do to ease the tax burden?
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Author: rjm1 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17669 of 75337
Subject: Re: roth ira -- income exceeded Date: 1/11/2000 11:03 PM
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This is my first day to visit the Fool and am very impressed, in fact, overwhelmed! I have been jumping around for
hours but do not seem to find an answer to
my question: I have found that my income has exceeded the limits to allow me to have a Roth IRA. I had set one up in
January of 1999. The $2,000 has grown to a little over $4,000. What should I do to ease the tax burden?


Have custodian change it to a regular IRA.

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Author: IrnBru Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17967 of 75337
Subject: Re: roth ira -- income exceeded Date: 1/19/2000 12:56 AM
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I'm sorry....I'm not following.

Did your Roth increase from 2k to 4 k because you have been putting in regular contributions?....or has it "grown" over the year to 4k?

If the former....I have exceeded the AGI to contribute the full $2000 for 99...I've already contributed $1000...lets say I'm only allowed to contribute $500...what do I do? (I have a 401K)

If the latter....I really don't understand what the issue is, since any "legal" contributions to a Roth IRA can grow (or diminish) at whatever rate the market dictates....no action required, right?...And furthermore the response to the original question confuses me more.

Please help clear this up.....its all very confusing.

Thanks in advance

Irn Bru

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