For a friend:
A Roth contribution for 2023 can made before April 15, 2024 .
Since the 5 year rule is based on tax years, a first Roth contribution on Dec 31 would count as on Jan 1.
What about the first contribution for the previous year?
If this is the first Roth IRA,
does the 5 year rule start with 2023,
or does it start with 2024?
A Roth contribution for 2023 can made before April 15, 2024 .
Since the 5 year rule is based on tax years, a first Roth contribution on Dec 31 would count as on Jan 1.
What about the first contribution for the previous year?
If this is the first Roth IRA,
does the 5 year rule start with 2023,
or does it start with 2024?
Statistics: Posted by MathWizard — Tue Jan 02, 2024 1:19 pm — Replies 2 — Views 104