My guess is no but I am not sure.
2006-12-09 12:15:14 · 4 answers · asked by w r 1 in Business & Finance ➔ Personal Finance
Sure can. Most people have both, but you can still only contribute the toal amount allowable between the 2 accts. So you cannot contribute 4k to one and 4k to another. 4k total.
2006-12-09 12:25:11 · answer #1 · answered by Papa John 6 · 0⤊ 0⤋
Only a total of $4K between the two of them. The Roth IRA is better because you can take the money out tax-free at retirement while the other you would have to pay taxes on the money that you earned.
2006-12-11 12:55:20 · answer #2 · answered by Steve R 6 · 0⤊ 0⤋
yes and your max contribution per year is equal to that of a traditional ira for tax purposes. You can claim both individually
2006-12-09 20:23:24 · answer #3 · answered by David E 2 · 0⤊ 0⤋
Yes you can.
You can contribute a total of $4,ooo to them. Meaning TOTAL. so $3,ooo to one and $1,ooo to the other OR $2,ooo to one and $2,ooo to the other.
2006-12-09 21:18:31 · answer #4 · answered by Kitty 6 · 0⤊ 0⤋