401(K) to an IRA to a ROTH ?

[Guest KirkD.]

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 !

[Guest Shelton]

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]

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.

[Guest KirkD.]

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