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Chad Sexington posted:It's still liquid enough in a Roth IRA. You can withdraw your contributions whenever you want, it's just the the interest you can't take out without penalty. When you withdraw your contributions from a Roth IRA, can you deposit it back? Or does any deposit go against the yearly limit? For example, the 2008 contribution limit is $5000. If I withdraw $1000 in July 2008, can I put in $6000 the next month? Or is it "once it's out, it's out"?
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Dec 10, 2008 16:47
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totalnewbie posted:Roth IRA has CY annual max contribution of 5000 so if you put in 5k now, you can put in another 5k any time in 2012 whereas if you put in 5k in January 2012 (or any time in 2012, actually), you cannot put in any more until January 2013. So as far as that goes, I think you're better off putting in 5k now to get the 2011 contribution in and then putting in 5k in 2012 when you can. I'm pretty much in the exact same boat as you and that's what I did. You actually have until April 15, 2012 to contribute for the 2011 year. When you transfer money to the Roth IRA between Jan 1-Apr 15, there will be a checkbox asking you if the contribution is for 2011 or 2012. edit: Actually, April 15, 2012 falls on a Sunday so I think you have until April 16, 2012 to contribute, but that's just splitting hairs. lowcrabdiet fucked around with this message at 17:24 on Dec 7, 2011 |
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Dec 7, 2011 17:20
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