I am 18 years old and just opened a roth IRA this year. I had a job last year and now i am wondering if i can contribute to my ira this years earnings of around $2,000 with last year's earnings of about $600?
2007-07-16 17:38:18 · 5 answers · asked by Brian 2 in Business & Finance ➔ Personal Finance
No,, for 2006 earnings, you had to deposit by April 15th 2007.
2007-07-16 17:41:37 · answer #1 · answered by CommonCents 4 · 0⤊ 0⤋
You can contribute up to $4000/year into your IRA. You have until 4/15 to contribute for the prior year (ie in 2008 you will have until 4/15/8 to contribute for 2007) so you legally cannot contribute for 2006 now because it is so late in the year.
2007-07-17 00:44:36 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Sorry, 2006 contributions have to be done by April 15th.
2007-07-17 01:56:15 · answer #3 · answered by wanting baby3 3 · 0⤊ 0⤋
You are limited to the income you earn this year so try to earn more by Dec 31
2007-07-17 00:46:48 · answer #4 · answered by shipwreck 7 · 0⤊ 0⤋
I think the cutoff date is April 15, so for now you're out of luck.
2007-07-17 00:42:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋