Permalink Submitted by Denise Appleby on Tue, 2012-05-29 18:56
Also, in addition to having sufficient eligible compensation for the year ( that is, your eligible compensation must be at least the amount you contribute) , your MAGI cannot exceed certain amounts for purposes of Roth IRA contribution eligibility. See http://www.retirementdictionary.com/articles/806/irs-announces-plan-limi…
Permalink Submitted by Alan Spross on Tue, 2012-05-29 17:02
No.
Your total IRA contribution limit is 6,000. You can split that amount in any combination you wish between TIRA and Roth IRAs.
Permalink Submitted by Denise Appleby on Tue, 2012-05-29 18:56
Also, in addition to having sufficient eligible compensation for the year ( that is, your eligible compensation must be at least the amount you contribute) , your MAGI cannot exceed certain amounts for purposes of Roth IRA contribution eligibility. See http://www.retirementdictionary.com/articles/806/irs-announces-plan-limi…
Permalink Submitted by Clyde Wolf on Tue, 2012-05-29 20:39
You may also have the opportunity to make a Spousal IRA Contribution.