Can i invest in traditional and roth IRA at same time?

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Can i invest in traditional and roth IRA at same time?

2007-03-03 09:32:31 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States

3 answers

Yes. You can contribute up to a total of $4,000 for 2006. You have up until the filing date of the tax returns to open an IRA. While you may get a current tax deduction for a traditional IRA, there is no deduction for contributions to a Roth IRA.

2007-03-03 09:59:21 · answer #1 · answered by tma 6 · 0⤊ 0⤋

Yes, but you are still limited to $4000 in contributions total.

2007-03-03 17:52:22 · answer #2 · answered by Wayne Z 7 · 3⤊ 0⤋

yes, you can't have the money in both accounts mix though.

2007-03-03 17:39:32 · answer #3 · answered by Benfica08 2 · 0⤊ 0⤋