The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: Maximum IRA Contribution for 2? Date:  10/20/1999  12:25 PM
Author:  Bob78164 Number:  14686 of 103822

TMFPixy writes (in part):

What's really of interest is whether the custodian would allow the overcontribution and how long it would take before the IRS said enough's enough and voided the IRA.

I reply:

The easiest work-around for any potential problems with the custodian would be to open IRAs with different custodians and contrbute $2000 to each. The real problem is with the IRS. I imagine we'd be talking back taxes, penalties, and interest, but that's just a guess on my part. --Bob
Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us