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Old 06-14-2004, 07:05 AM
Nick
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Default Re: So, whene can I do the "catch-up" for an IRA

smithff33[at]aol.com (Herb Smith) wrote:
- quote -

> nickravo[at]earthlink.net (Nick) wrote:

> > I turn 50 in Oct. 2005. Can I do it after Jan. 1, 2005, or
> > do I wait until after my birthday, the following Jan. 1, the
> > following tax year? When? And how much by the way, in
> > addition to my 3k IRA contribution.


> As long as you turn 50 in 2005, the "catch-up" contribution
> can be made at any time during 2005. Although the catchup
> amount is $500 for 2004, I believe it increases to $1000 in
> 2005.


So that means I can put $4k in on January 1 into my IRA,
even though I will be 49 on that date? Does it ever pump up
to like an extra $5k at some age?

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Old 06-10-2004, 05:40 PM
Herb Smith
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Default Re: So, whene can I do the "catch-up" for an IRA

nickravo[at]earthlink.net (Nick) wrote:

- quote -

> I turn 50 in Oct. 2005. Can I do it after Jan. 1, 2005, or
> do I wait until after my birthday, the following Jan. 1, the
> following tax year? When? And how much by the way, in
> addition to my 3k IRA contribution.


As long as you turn 50 in 2005, the "catch-up" contribution
can be made at any time during 2005. Although the catchup
amount is $500 for 2004, I believe it increases to $1000 in
2005.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #-1  
Old 06-09-2004, 07:16 AM
Nick
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Posts: n/a
Default So, whene can I do the "catch-up" for an IRA

I turn 50 in Oct. 2005. Can I do it after Jan. 1, 2005, or
do I wait until after my birthday, the following Jan. 1, the
following tax year? When? And how much by the way, in
addition to my 3k IRA contribution.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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