I have a couple of beginner's question about Roth IRA contributions. I am a resident right now.
I opened up a Vanguard Roth IRA for my wife in 2016 by rolling over her old 403b from her old job and then I made the full $5500 contribution into that account on 12/28/16.
I want to open up a Roth in my name now as well.
Question 1: If I open a Roth before 4/17/17 (the 2016 deadline) in my name and make a full $5500 contribution to it, will that then count as my 2016 contribution? Can I then turn around and make a second $5500 contribution a few days later and it would count as a 2017 contribution?
Question 2: Can I make any contributions to my wife's Roth IRA account before 4/17/17? Or am I already maxed out for this contribution year?
Question 3: How does it work if I file my 2016 tax return to the IRS before April 17th (which I always do) and then make a 2016 contribution to a Roth IRA after filing? Would that mess anything up with my tax return?
I opened up a Vanguard Roth IRA for my wife in 2016 by rolling over her old 403b from her old job and then I made the full $5500 contribution into that account on 12/28/16.
I want to open up a Roth in my name now as well.
Question 1: If I open a Roth before 4/17/17 (the 2016 deadline) in my name and make a full $5500 contribution to it, will that then count as my 2016 contribution? Can I then turn around and make a second $5500 contribution a few days later and it would count as a 2017 contribution?
Question 2: Can I make any contributions to my wife's Roth IRA account before 4/17/17? Or am I already maxed out for this contribution year?
Question 3: How does it work if I file my 2016 tax return to the IRS before April 17th (which I always do) and then make a 2016 contribution to a Roth IRA after filing? Would that mess anything up with my tax return?
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