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Does anyone know where I can go to find out more about limits on contributions to each of these IRA types? I'm trying to find out a couple of things. One: can I contribute to both in the same year? Two: I need a chart to see what the contributions allowance is if your AGI is x amount of dollars.

Thanks in advance,

GR
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The sum of all your contributions to both IRA and Roth IRA may not exceed $2K (you wife may have her own accounts and do another $2K).

The AGI limits for Roth seem to change every year. Its about $100K for singles and $150K for married couples. There are no income limits on traditional IRA. You may still contribute regardless of income, but at low AGIs contributions are tax deductible. Usually, if you qualify for deductible IRA contributions, you should contribute to a Roth instead. But regardless, you should contribute $2K to one of the programs every year. They are excellent retirement vehicles--hard for most of us to beat otherwise.
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Can you trade stock inside a RothIRA if so is it
right that you want have to pay Capital gains after
59years old.
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Most Roth IRA custodians will allow you to make a large variety of investments within the account. If at a brokerage, yes stock trades are allowed. You may also own bonds, CDs, mutual funds, and probably lots more. And you may freely trade these as long as the fees and commissions are paid with money from the account.

The profits you make do not incur taxes in the year you do the trade. In a conventional IRA you do pay taxes at ordinary rates on the contents of the IRA when you withdraw them usually at age 59-1/2. These taxes are paid at ordinary rates--not at capital gains rates. With a Roth IRA no taxes are due at retirement--not even capital gains. Taxes would be due only if you break the rules when you take money from the account. Wait to age 59-1/2 and the money is tax free.
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Hey Possum ! I have to give you the good news! You can trade as much as you want to; and NEVER have to pay any kind of tax, ordinary or capital gains, EVER - just as long as you leave it in the Roth for five years and you don't start drawing it out till you're 59 1/2 years young! - Drool on that one! - Matthew
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