This may be a stupid question but here goes. Can you contribute to a Roth IRA and a regular IRA for the same tax year? ie: put 3K into the Roth and another 3K into the traditional for 2003, assuming you do not make over the limit in AGI?
outlaw...This is a snip from the "Fool's" section on retirement vehicles:"...One person's annual contribution, whether made to just one or to multiple IRAs, is limited to the lesser of total taxable compensation or to the normal yearly amount shown in the following table. Persons age 50 or older may make an additional catch-up contribution in the amount indicated in the table below." Traditional and Roth IRA Annual Contribution LimitsYear Normal Catch-up---------------------------- 2001 $2,000 $02002 $3,000 $5002003 $3,000 $5002004 $3,000 $5002005 $4,000 $5002006 $4,000 $1,0002007 $4,000 $1,0002008 $5,000 $1,0002009+ Indexed* $1,000http://www.fool.com/retirement.htm?source=PFinAgSaid another way - you can have as many different Traditional and/or Roth IRAs as you wish, however, the total contribution per tax year for all of them together cannot exceed $3,000 per individual taxpayer.Bill
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