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mike1965 writes:

I would like to open a Roth IRA in 1998. If I contribute $2000 By the end of the year, Do I have to wait 1 full year from then to contribute another $2000? Or can I do another $2000 after april 15? If the correct answer is the latter and I invest another $2000 on lets say april 20th, do I have to wait until the following year after april 20th for my next contribution? I hope this makes sense.

I reply:

You may make your 1998 Roth contribution any time between January 1, 1998, and April 15, 1999. (The contribution is made on the day your IRA custodian receives the money, not when you drop the check in the mail.) Regardless of what you do for the 1998 tax year, you may make your 1999 Roth contribution any time between January 1, 1999, and April 17, 2000. Thus, you may make your 1999 contribution any time after the first of the year. Good luck! --Bob
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