Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
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.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.