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Reply to "I get stumped by the income limits on the investments - help"
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[quote=Anonymous]There is no income to contribute to a traditional IRA. There are income limits for deducting your contribution to a traditional IRA on your income tax return, or for contributing to a Roth IRA. However, there is no income limit for converting a traditional IRA to a Roth IRA. It's not uncommon for people to contribute to a traditional IRA and then convert to a Roth (and if no tax deduction was taken, and the account didn't increase in value, then no tax is owed on the conversion). There are limits on how much you could put in each year however.[/quote]
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