Multiple IRAs

[Guest JTGT]

I just have a quick question. I have two Roth IRA accounts. Does the maximum contribution apply to each account seperately or my accounts as a whole. In other words, can I contribute $3000 to each account or only $3000 total.

Thanks

[Michael Devault]

The limit applies to all of your accounts in total. During 2002, you may not contribute more than $3,000 in aggregate to all of your Roth IRAs and traditional IRAs.

Hope this helps.