Max Roth IRA Contribution

tagrims · #1 (**permalink**) 03-12-2006, 01:20 PM

Quick question on roth IRAs....

Say I have $8,000 to invenst...
Can I invest it all into a Roth IRA today.

$4,000 for tax year 2005

$4,000 for tax year 2006.

In essentially one transaction?

Or do I have to wait until Apr. 17th to make the 2006 contribution?

Russell · #2 (**permalink**) 03-12-2006, 04:03 PM

If you qualify for ROTH then the answer is yes. However, you may have to write two checks and use two deposit slips for each year.

Ima saver · #3 (**permalink**) 03-12-2006, 04:24 PM

Yes, but like russell says, it has to be two seperate transactions!

tagrims · #4 (**permalink**) 03-12-2006, 04:29 PM

Does anyone know if Vanguard's web site has an option to distinguish which tax year an investment is for or would I need to do this by mail or phone?

kristinecfp · #5 (**permalink**) 03-12-2006, 08:02 PM

It's been a few months since I've used Vanguard's Roth IRA contribution feature, but I believe they do allow you to distinguish which year you are making the contribution for on their website, so no need to do a phone call or mail for your Roth contributions.

jmjj215 · #6 (**permalink**) 03-16-2006, 08:23 AM

They do. I just did my '05 and they the '05 box you can enter the amount in, or the '06 box. You have to love their simplicity.