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More than one IRA Contribution per CY ??


Guest jeepnsam
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Guest jeepnsam

I have a question

1) I have an IRA what I rolled over from an old 1990 employeers 401k and haven't touch it since.

2) I contribute the max to my employeer matching 401k plan for CY 2013 and 2014

3) My wife no longer works but we have an IRA for her also

4) I've opened a seperate IRA (makes for two in my name)

QUESTION:

I know the max I can contribute to any one IRA per CY is $5,500.

The question is, since I have a total of three IRA (2 mine) (1 spouse), can I contrbute

$5,000 to each of my IRA in the same CY???

* $5,500 to my IRA #1 for CY 2014

* $5,500 to my IRA #2 for CY 2014

Of course, I know that I can contribute $5,500 to the spouses IRA for 2014.

Thanks,

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  • 1 month later...

You may want to consider consolidating the fragments into one larger rollover IRA. This might simplify your monitoring and investment decisions.

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