Guest bbennett Posted January 22, 2002 Posted January 22, 2002 Can I establish a $2000 Roth IRA for 2001 before April 15, 2002 and then contribute $3000 for 2002 shortly thereafter (in May)? Thanks!
Appleby Posted January 22, 2002 Posted January 22, 2002 Absolutely. Life and Death Planning for Retirement Benefits by Natalie B. Choatehttps://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/ www.DeniseAppleby.com
Michael Devault Posted January 22, 2002 Posted January 22, 2002 When you contribute the $2,000 for 2001, make sure that the custodian understands that it is a contribution for the calendar year 2001. Otherwise, they'll likely code it as a 2002 contribution.
John G Posted January 23, 2002 Posted January 23, 2002 You can actually do the full 5k anytime before April 15, even on the same day. But, as noted above: be sure the custodian understands the designations. Best way to do this is (1) use two separate checks and put the contribution year on the check, and (2) double check your monthly statement to make sure the funds were deposited and properly designated. Year designation mistakes are pretty common in the overlap period.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now