Can you contribute to a roth and traditional ira the same year?
Hi there, can a person contribute the max to a roth ira and a traditional ira in the same year. I have put the max 4,000 into a roth this year, can I still contribute to a traditionl ira this year as well? Thanks
Yes, you k? Can contribute both in the same year.
yes but you wont get the tax deduction
Yes, you can contribute on both accounts, but one cannot be able to do both from max. your entire contributions only $ 4000 to be. In the year 2008 it will be $ 5000. Thus, if you do not know 4000 $ set into a Roth, you any more contributions. If you can place 2000 set into a Roth, you nevertheless to $ an additional $ 2000 in a Roth or the traditional.