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PatrickDW writes:

Thanks "fbeck" for the answer to my previous question! Now a new (related) one:

I have two IRAs that I have converted to Roths this year. I wish to tranfer both Roth IRAs to a new trustee (a brokerage), AND contribute $2,000 for 1998 to a Roth with the new trustee. I am 31 years old, so I'm not concerned with the 5 year rule. May I combine the old Roth IRAs into one account, and may I add 1998's contribution to the same account?


I reply:

I got it! (I wouldn't want fbeck to have all the fun.) Yes. You really only have one Roth IRA; it's merely kept with different custodians. Thus, no matter what you do with the money in that pre-existing Roth IRA, you may add this year's $2000 annual contribution to it. Good luck! --Bob
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