Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Thanks to the excellent advice given by TMF Taxes and Randonneur I have opened Roth IRA for myself and my husband. Our checks of $ 2000 each are on way to be deposited for this tax year.

My querry is-

Since we have some more cash in hand we would like to deposit another 2000 each for our Roth in January 2000.As I mentioned we are not sure whether our AGI will cross 160K next year, the chances are that it will but we will not know for sure till the end of year 2000. What happens in a situation where we put the money in Roth at the beginning of the year and later at the end of the year realise that our AGI has exceeded the limits set for the Roth IRA.

Any help on this would be much appreciated.

Thanks in advance.

RsyFool
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.