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Auto IRA funding - For previous year
Old 04-22-2008, 07:55 PM   #1
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Auto IRA funding - For previous year

Has anybody made previous-year IRA contributions either via the mutual fund's automatic investment plan or by your own BillPay system? If so, how did you indicate to the fund compay that the investment was for the previous year (i.e. a 2007 contribution made in 2008?

It has been my experience that most fund families default to current year.
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Old 04-22-2008, 08:18 PM   #2
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When you contribute to a Vanguard IRA online, you must designate to which year your contributions are to be applied.

I haven't contributed to my Vanguard IRA by automatic investment, but I am sure you will be required to designate the year.
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Old 04-22-2008, 10:48 PM   #3
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Quote:
Originally Posted by Want2retire View Post
When you contribute to a Vanguard IRA online, you must designate to which year your contributions are to be applied.

I haven't contributed to my Vanguard IRA by automatic investment, but I am sure you will be required to designate the year.
That's how T. Rowe-Price is. I have a Roth IRA there, and had it set up for the automatic investing. There was a place on my TRP account web-page to designate which year (current/prior) you wanted the contribution to apply to. In '07 I had it setup for Jan-Mar to be prior year....to max-out for '06, and then April to be current year.

As for doing random ACH transfers into my IRA, there was a box to check for either current or prior year on my TRP account web-page.
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Old 04-23-2008, 02:31 PM   #4
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T Rowe Price has a page where you look at contributions

I put $281.25 into fund A each month
$93.75 into funds B-C-D
$62.50 into fund E etc..

on same page it asks which months to contribute (I send in $625, so I turn off sept-oct-nov-dec), on same page it asks what year jan-feb-march and april are (current or prior year).

Default is current year.

I have made changes to this because I could not afford $625 when I started the IRAs, so it took me 15 months to max out a few years ago.
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