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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.

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