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Welcome MickFink. Glad you could join us.

I think Fuskie covered the last part of your question very well. Let me tackle the other two--

"Are there any roadblocks to rolling the traditional IRA into an EXISTING Roth IRA (as is my intention for 2005)?"

No, as long as you otherwise qualify in terms of AGI, the Roth conversion sum may be combined in your preexisting Roth.

"If no roadblocks, can I still contribute the max $4000 in 2005 to the Roth or will the funds from my rollover supercede/exclude me from making this contribution?"

Yes, you can still make the $4K contribution. Rollover and contribution are completely separate and do not affect each other.
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