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-> Finances
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amother
OP
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 Sat, Feb 26 2022, 11:56 pm
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I opened a Roth IRA for 2021- in January 2022. How do I indicate that it's for 2021 because I want to add more money for 2022 but there's a yearly limit.
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dena613
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Sun, Feb 27 2022, 2:50 pm
I am not sure I understand your question.
But if you opened it in 2021 you had to put in up to 6k in 2021.
So say you opened in December 2021, you had to put in all 6k (or less) in that month.
You can not add in 2022 toward 2021.
Each year you can only put in max 6k.
I hope that helps.
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dena613
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Sun, Feb 27 2022, 2:51 pm
Reread OP.
You opened in January 2022.
2021 has passed.
You can't out in for that year.
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amother
Seafoam
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Sun, Feb 27 2022, 2:57 pm
I am pretty sure you can contribute to a Roth IRA up until the usual tax deadline (4/15) for 2021.
There should be an option when you contribute funds to specify if it is for 2021 or 2022... but I don't know for sure, it could be each company has a different way of doing it.
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amother
OP
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Sun, Feb 27 2022, 3:59 pm
| amother [ Seafoam ] wrote: | I am pretty sure you can contribute to a Roth IRA up until the usual tax deadline (4/15) for 2021.
There should be an option when you contribute funds to specify if it is for 2021 or 2022... but I don't know for sure, it could be each company has a different way of doing it. | this is what I heard that you have until April to contribute for previous year, but I don't know how.
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amother
Seafoam
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Sun, Feb 27 2022, 8:00 pm
| amother [ OP ] wrote: | | this is what I heard that you have until April to contribute for previous year, but I don't know how. |
What company are you using for the Roth IRA?
I have one with Vanguard. I think that when I select that I want to buy/invest funds, if I had not maxed out on my 2021 contribution limit I think it would give me the option of selecting either 2021 or 2022 for the investment...
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dena613
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Sun, Feb 27 2022, 9:08 pm
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Oops! Didnt know that! I'm definitely not a finances expert. I had heard that from somrone, but I gueSs I was wrong!
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amother
Cadetblue
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Wed, Mar 02 2022, 10:57 pm
| dena613 wrote: | I am not sure I understand your question.
But if you opened it in 2021 you had to put in up to 6k in 2021.
So say you opened in December 2021, you had to put in all 6k (or less) in that month.
You can not add in 2022 toward 2021.
Each year you can only put in max 6k.
I hope that helps. |
Wrong. You can add up until April 15th. When you contribute there is an option to choose which year it should go towards.
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