Can I Contribute the Max to Both My IRA and Roth IRA, Then Convert in the Same Year? For the full podcast episode, transcript and show notes, visit On the Your Money, Your Wealth® podcast, Joe Anderson, CFP® and Big Al Clopine answer this question from Lenny in Michigan: "Hello I am wondering can I make a $5500 contribution to both my IRA and to my Roth IRA in the same year? If so, later that same year can I convert the IRA to my Roth IRA and pay the tax for the IRA?" Listen to the podcast: JA: We got Lenny from Michigan. “Hello my name is Lenny. Do you have a penny?” Anyone remember that? AL: Nope. AC: No. Nothing. JA: Really? Good Times. Remember? The guy would open up his jacket and then he would have TV's and watches? AC: (laughs) I'm sure you're right. AL: I didn't watch it, sorry. JA: Good Times? J.J.? AC: Yeah I remember J.J. but I probably watched that show for like two minutes. JA: Janet Jackson was on the show. I loved Good Ti...
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