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re: Traditional IRA contribution limits?
Posted on 2/13/10 at 4:55 pm to wegotdatwood
Posted on 2/13/10 at 4:55 pm to wegotdatwood
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.
Posted on 2/13/10 at 6:34 pm to foshizzle
traditional IRS's are only deductible if you earn around 40-50k per year. Roth IRA would be a better choice if you cant deduct and the limits are over 100k
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