Elizabeth Richardson wrote:
> "joetaxpayer" <joetaxpayer@[EMAIL PROTECTED]
> wrote in message
> news:YbmdnR5mjbwU_0XanZ2dnUVZ_rninZ2d@[EMAIL PROTECTED]
>
>>
>>No, there are some plans that do require that, but IRA has tax day
>>deadline, whenever it falls.
>
>
> Ok, maybe they've changed it. It used to be that to make a 2007
contribution
> in 2008, you had to have established the account by 12/31/07. You
couldn't
> open an account in 2008 and fund it for 2007 (or 2006, or some other
prior
> year). I know that for an already established account you can back fund
it.
Well, I just searched a bit, and found that a Self-Employed 401(k) has a
deadline to open by 12/31. And Roth conversions must happen by 12/31 as
well. And RMDs for IRAs.
Here's my question back to you - will a broker open a zero balance IRA?
There are those who, even by 12/31, don't know if they can deduct the
IRA, and are inclined to wait till March to open one, or deposit to a
new one. I guess once the account is open, this discussion is moot
beyond that point. If nothing else, this continues to prove my point,
"too many retirement accounts, too many rules."
Joe
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