KirkD.
Feb 19 2002, 08:03 PM
I transferred funds out of my company's 401(K) into a "self-directed" IRA and then converted the IRA into a ROTH ( and paid the subsequent taxes).
Can I now put additional funds into my ROTH , without having to transfer/convert more of 401(K) ?
Thanks for any assistance !
Shelton
Feb 20 2002, 10:46 AM
Yes. You may contribute up to a certain amount each year. For year 2001, it is $2,000 for 2002 it is $3,000 or 100% or your compensation, whichever is less
John G
Feb 20 2002, 12:23 PM
In 2002, add $500 if you qualify for the retirement "make up" period at age 50+. So for some people the max amount in 2002 may be $3,500.
KirkD.
Feb 22 2002, 08:43 AM
John and Shelton,
Thank you for your time and assistance.
Members of this board have been EXTREMELY helpful - wanted to let you know, it is appreciated!
take care, Kirk
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