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re: Traditional IRA contribution limits?

Posted on 2/13/10 at 2:41 pm to
Posted by wegotdatwood
Member since Aug 2009
17094 posts
Posted on 2/13/10 at 2:41 pm to
Is there a limit on how much you can put into any IRA the first time you open one?
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 2/13/10 at 4:55 pm to
quote:

Is there a limit on how much you can put into any IRA the first time you open one?


The limit is the annual contribution limit.

Rollovers are another matter, but of course that is when you are "rolling over" another similar account to an IRA. For example, you can (if memory serves) roll over a 403(b) to a traditional IRA. But that doesn't count as a contribution.
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