IRA's

[FLAtoNC1717]

I'm trying to find out if an individual is allowed to contribute to more than one IRA; say a Roth and a Traditional, or more than one Roth, or more than one Traditional. ty.

 

[Snipes5]

You can have as many accounts as you like, but total contributions overall can only be $4000 if you are under 50 and $4500 if you are over 50.

Snipes

 

[anteater]

.....and $4500 if you are over 50.

Snipes

$5.000 now if over 50, I believe.

 

[Snipes5]

Yes, that's for 06. I was thinking 05 since that is technically still "open" until April 17.

Snipes

 

[anteater]

Yes, that's for 06. I was thinking 05 since that is technically still "open" until April 17.

Snipes

True enough.

I guess the calendar begins to look a bit different when you are doing taxes for scores of people.

 

[FLAtoNC1717]

Thanks.

I see. So, one may have several IRA's in various banks or institutions, as long as you don't exceed your max. contribution. I am clear on that now. Thank you for your replies.