Comments on: Traditional and Roth IRA Contribution Limits for 2009 http://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Mon, 22 Mar 2010 05:34:43 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Bobhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-204402 Bob Thu, 04 Mar 2010 18:54:37 +0000 http://www.consumerismcommentary.com/?p=4953#comment-204402 The maximum you and your spouse can contribute to a Roth would $6000. $49k is for other retirement plans. The maximum you and your spouse can contribute to a Roth would $6000. $49k is for other retirement plans.

]]> By: Juliehttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-204399 Julie Thu, 04 Mar 2010 17:57:32 +0000 http://www.consumerismcommentary.com/?p=4953#comment-204399 I am 55, self-employed and so is my husband. So is $49K the maximum I can contribute to my Roth IRA? I don't have a SEP IRA. Between us we don't make much these days -- less than $40K. I received a little inheritance, tho and would like to contribute to retirement. I am 55, self-employed and so is my husband.
So is $49K the maximum I can contribute to my Roth IRA? I don’t have a SEP IRA. Between us we don’t make much these days — less than $40K. I received a little inheritance, tho and would like to contribute to retirement.

]]> By: Bob Mhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-204301 Bob M Mon, 01 Mar 2010 22:24:13 +0000 http://www.consumerismcommentary.com/?p=4953#comment-204301 I have a 401k to which I contribue the max with makeup (60yo, $22,000) and company contributes $6600. I also have self employment income of about $150,000 and have established a SEP plan. Am I limited to contributing $49,000 less the $28,600 (401(k) or $20,400 to my SEP or can I contribute the maximum allowed to my SEP notwithstanding the 401(k) contributions? I have a 401k to which I contribue the max with makeup (60yo, $22,000) and company contributes $6600. I also have self employment income of about $150,000 and have established a SEP plan. Am I limited to contributing $49,000 less the $28,600 (401(k) or $20,400 to my SEP or can I contribute the maximum allowed to my SEP notwithstanding the 401(k) contributions?

]]> By: Jeff Phttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-204225 Jeff P Sat, 27 Feb 2010 20:59:53 +0000 http://www.consumerismcommentary.com/?p=4953#comment-204225 In 20 years, you will not be taxed on the $5,000 of IRA contribution--because you did not deduct this contribution on a pre-tax basis. In 20 years, you will only pay taxes on the earnings that were generated on the original $5,000.Nevertheless, this is not an optimal situation.You have two options to optimize your situation:1. Reverse your 2009 IRA contribution and pay the 10% early withdrawl penalty plus tax on the earnings.or2. Convert your $5,000 of non-deductible IRA to a Roth IRA in 2010. Then, you will only pay tax on the earnings generated since you originally contributed the $5,000. Then, in 20 years, all of your withdrawls from the Roth IRA will be tax-free. In 20 years, you will not be taxed on the $5,000 of IRA contribution–because you did not deduct this contribution on a pre-tax basis. In 20 years, you will only pay taxes on the earnings that were generated on the original $5,000.

Nevertheless, this is not an optimal situation.

You have two options to optimize your situation:

1. Reverse your 2009 IRA contribution and pay the 10% early withdrawl penalty plus tax on the earnings.

or

2. Convert your $5,000 of non-deductible IRA to a Roth IRA in 2010. Then, you will only pay tax on the earnings generated since you originally contributed the $5,000. Then, in 20 years, all of your withdrawls from the Roth IRA will be tax-free.

]]> By: Jeff Phttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-204224 Jeff P Sat, 27 Feb 2010 20:49:12 +0000 http://www.consumerismcommentary.com/?p=4953#comment-204224 I have exactly the same question I have exactly the same question

]]> By: Jeff Phttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-204223 Jeff P Sat, 27 Feb 2010 20:47:54 +0000 http://www.consumerismcommentary.com/?p=4953#comment-204223 My self-employment income each year from consulting work is approx. $1,000. However, as a real estate investor, I net approximately $100,000 from real estate rental activity that is reported on Schedule E. Can I count any of my Schedule E income as "qualifying income" for the purposes of contributing to a Roth IRA? Or am I limited to the net income (after expenses) reported on my Sch. C for my consulting activity? My self-employment income each year from consulting work is approx. $1,000. However, as a real estate investor, I net approximately $100,000 from real estate rental activity that is reported on Schedule E. Can I count any of my Schedule E income as “qualifying income” for the purposes of contributing to a Roth IRA? Or am I limited to the net income (after expenses) reported on my Sch. C for my consulting activity?

]]> By: Juliehttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-204110 Julie Wed, 24 Feb 2010 02:03:50 +0000 http://www.consumerismcommentary.com/?p=4953#comment-204110 My husband and I each contributed the maximum of $5,000 into our Roth IRAs for tax year 2009, however, our MAGI is going to be around $176,000 for 2009. This means we can’t contribute to our Roths in 2009. I also expect we’ll be above the income limit in 2010 as well. Can we take advantage of the 2010 Roth IRA conversion loophole (no income limits on conversions in 2010 only) by converting our excess 2009 contributions to an after-tax Tradition IRA, then continue to contribute the maximum for 2010 as after-tax Tradition IRA contributions, and finally reconverting back to the Roth IRA before the end of tax year 2010? My husband and I each contributed the maximum of $5,000 into our Roth IRAs for tax year 2009, however, our MAGI is going to be around $176,000 for 2009. This means we can’t contribute to our Roths in 2009. I also expect we’ll be above the income limit in 2010 as well. Can we take advantage of the 2010 Roth IRA conversion loophole (no income limits on conversions in 2010 only) by converting our excess 2009 contributions to an after-tax Tradition IRA, then continue to contribute the maximum for 2010 as after-tax Tradition IRA contributions, and finally reconverting back to the Roth IRA before the end of tax year 2010?

]]> By: Adamhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-204019 Adam Sun, 21 Feb 2010 22:16:31 +0000 http://www.consumerismcommentary.com/?p=4953#comment-204019 Hello. I contributed $5000 for both my wife and I earlier in 2009 to a Traditional IRA through Fidelity. When filing my taxes with turbotax, I get the following message: Adam's modified adjusted gross income (MAGI) is $169,313, which puts Adam over the limit for IRA deductions. To deduct a contribution, you can't have a MAGI of more than $109,000 while being covered by a retirement plan at work.I guess I am fine if I can't deduct this, but what are my options. I don't want to take the money out in 20 years and have to pay more taxes. Please help! Hello. I contributed $5000 for both my wife and I earlier in 2009 to a Traditional IRA through Fidelity. When filing my taxes with turbotax, I get the following message: Adam’s modified adjusted gross income (MAGI) is $169,313, which puts Adam over the limit for IRA deductions. To deduct a contribution, you can’t have a MAGI of more than $109,000 while being covered by a retirement plan at work.

I guess I am fine if I can’t deduct this, but what are my options. I don’t want to take the money out in 20 years and have to pay more taxes. Please help!

]]> By: Jimhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-203964 Jim Fri, 19 Feb 2010 20:39:33 +0000 http://www.consumerismcommentary.com/?p=4953#comment-203964 Jeff, I contributed $4,000 to a traditional IRA in 2009 and just realized that I am eligible to make a $5,520 contribution to a Roth IRA for 2009. I want to get $3,520 of the $4,000 out of the traditional IRA and into the Roth and contribute another $2,000 to the Roth before April 15. I turned 50 in 2009 so I am eligible for a $6,000 total IRA contribution. What do I have to do to get the money out of the traditional and into the Roth? Should I attach a note to my 2009 return about this activity? Jeff, I contributed $4,000 to a traditional IRA in 2009 and just realized that I am eligible to make a $5,520 contribution to a Roth IRA for 2009. I want to get $3,520 of the $4,000 out of the traditional IRA and into the Roth and contribute another $2,000 to the Roth before April 15. I turned 50 in 2009 so I am eligible for a $6,000 total IRA contribution. What do I have to do to get the money out of the traditional and into the Roth? Should I attach a note to my 2009 return about this activity?

]]> By: EJhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-203014 EJ Mon, 01 Feb 2010 04:00:39 +0000 http://www.consumerismcommentary.com/?p=4953#comment-203014 I can still make contributions to my Roth IRA after five years, yeah? Is there a lifetime limit of how much you can put in, or is it just the yearly maximum? I can still make contributions to my Roth IRA after five years, yeah? Is there a lifetime limit of how much you can put in, or is it just the yearly maximum?

]]> By: Markhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-202752 Mark Thu, 28 Jan 2010 07:31:34 +0000 http://www.consumerismcommentary.com/?p=4953#comment-202752 I'm concluding a 23 year military career and considering my options regarding consolidation of retirement accounts. In addition to my Roth IRA, I have a TSP account, which I understand is treated the same as a 401(k) by the IRS. I have $30K in the TSP account, and $8K is tax free as it was contributed while I was serving in a combat zone. My question is whether it is advisable to roll the entire account into my Roth IRA, and assume I would only have to pay taxes on the remaining $22K?Thanks - Mark I’m concluding a 23 year military career and considering my options regarding consolidation of retirement accounts. In addition to my Roth IRA, I have a TSP account, which I understand is treated the same as a 401(k) by the IRS. I have $30K in the TSP account, and $8K is tax free as it was contributed while I was serving in a combat zone. My question is whether it is advisable to roll the entire account into my Roth IRA, and assume I would only have to pay taxes on the remaining $22K?

Thanks – Mark

]]> By: Scotthttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-201536 Scott Wed, 13 Jan 2010 13:54:54 +0000 http://www.consumerismcommentary.com/?p=4953#comment-201536 Jeff,My income is normally high enough that I am unable to make a Roth IRA contribution. I understand that starting in 2010 we can get around the Roth IRA income limitation by first contributing to a non-deductible Traditional IRA and then converting those contributions to a Roth IRA. So for 2010, I'm planning on making two $5K non-deductible IRA contributions, one for 2009 (before April 15, 2010) and one for 2010, then convert those contributions to a Roth IRA in early 2010. So far so good.The twist in my situation is that I inherited a Traditional IRA from my domestic partner, who passed away in 2005. Because we weren't allowed to marry, I'm considered a non-spousal beneficiary, and I'm not allowed to roll the Inherited IRA into my own Traditional IRA. Instead, I was planning on following the 5-year rule for distributions of inherited IRAs, i.e. wait until the end of 2010 and withdraw the entire amount in a taxable distribution.My question is, when I convert the non-deductible Traditional IRA to a Roth IRA, will the IRS consider the Inherited IRA to be part of my Traditional IRA, and thus require pro rata tax on the combined amount? Does it depend on the relative timing of the Traditional-to-Roth conversion, versus the distribution of the Inherited IRA? In other words, would it be better for me to distribute the Inherited IRA first, before converting the Traditional IRA to Roth IRA, or should I stick to my original plan? Or does the IRS consider the Inherited IRA to be different from the Traditional IRA, so the order doesn't matter?Thanks in advance for your thoughts on this siutation, Scott Jeff,

My income is normally high enough that I am unable to make a Roth IRA contribution. I understand that starting in 2010 we can get around the Roth IRA income limitation by first contributing to a non-deductible Traditional IRA and then converting those contributions to a Roth IRA. So for 2010, I’m planning on making two $5K non-deductible IRA contributions, one for 2009 (before April 15, 2010) and one for 2010, then convert those contributions to a Roth IRA in early 2010. So far so good.

The twist in my situation is that I inherited a Traditional IRA from my domestic partner, who passed away in 2005. Because we weren’t allowed to marry, I’m considered a non-spousal beneficiary, and I’m not allowed to roll the Inherited IRA into my own Traditional IRA. Instead, I was planning on following the 5-year rule for distributions of inherited IRAs, i.e. wait until the end of 2010 and withdraw the entire amount in a taxable distribution.

My question is, when I convert the non-deductible Traditional IRA to a Roth IRA, will the IRS consider the Inherited IRA to be part of my Traditional IRA, and thus require pro rata tax on the combined amount? Does it depend on the relative timing of the Traditional-to-Roth conversion, versus the distribution of the Inherited IRA? In other words, would it be better for me to distribute the Inherited IRA first, before converting the Traditional IRA to Roth IRA, or should I stick to my original plan? Or does the IRS consider the Inherited IRA to be different from the Traditional IRA, so the order doesn’t matter?

Thanks in advance for your thoughts on this siutation,
Scott

]]> By: Jeff Rosehttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-201418 Jeff Rose Thu, 07 Jan 2010 21:56:42 +0000 http://www.consumerismcommentary.com/?p=4953#comment-201418 @ DGYes, you can do it and as of now will be able to do it each year going forward. A few things to consider:1. What happens if you earn more in those years? Then you may pay more tax then. 2. If you are under 59 1/2, you better pay the tax on the conversion with money outside the IRA otherwise you'll be subject to the 10% early withdrawal penalty. 3. If you have other IRA's in the mix, those will be included in the conversion total. See this article: http://www.goodfinancialcents.com/2010-traditional-ira-to-roth-ira-conversion-tax-rules/So you're not missing anything, but for the most part it should cancel out the immediate tax benefit but if time is on your side the large chunk in the Roth IRA will be sweet at retirement. @ DG

Yes, you can do it and as of now will be able to do it each year going forward. A few things to consider:

1. What happens if you earn more in those years? Then you may pay more tax then.
2. If you are under 59 1/2, you better pay the tax on the conversion with money outside the IRA otherwise you’ll be subject to the 10% early withdrawal penalty.
3. If you have other IRA’s in the mix, those will be included in the conversion total. See this article: http://www.goodfinancialcents.com/2010-traditional-ira-to-roth-ira-conversion-tax-rules/

So you’re not missing anything, but for the most part it should cancel out the immediate tax benefit but if time is on your side the large chunk in the Roth IRA will be sweet at retirement.

]]> By: DGhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-201378 DG Wed, 06 Jan 2010 20:40:55 +0000 http://www.consumerismcommentary.com/?p=4953#comment-201378 Jeff,Can I contribute to a SEP IRA (I am self employed) and then convert it to a Roth right away??? For tax purposes, I will get a wright off on my 2010 taxes and pay the tax on the money in 2011 and 2012, am I missing something??? Mainly want to know if I can do a contribution and a conversion in the same year?? Thanks in advance Jeff,

Can I contribute to a SEP IRA (I am self employed) and then convert it to a Roth right away??? For tax purposes, I will get a wright off on my 2010 taxes and pay the tax on the money in 2011 and 2012, am I missing something??? Mainly want to know if I can do a contribution and a conversion in the same year?? Thanks in advance

]]> By: navinhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-200930 navin Tue, 22 Dec 2009 15:43:37 +0000 http://www.consumerismcommentary.com/?p=4953#comment-200930 the best solution would be to re characterize your $1000 Roth IRA contribution to 2009 contribution. the best solution would be to re characterize your $1000 Roth IRA contribution to 2009 contribution.

]]> By: Jeff Rosehttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-200816 Jeff Rose Fri, 18 Dec 2009 16:42:21 +0000 http://www.consumerismcommentary.com/?p=4953#comment-200816 @ Dan W and Dan V.You can contribute to both a SEP and Traditional IRA. The total deduction you are allowed for both is up to $49,000 which is the cap on annual additions to defined contribution plans for 2009. In the event you were able to contribute more, the tradtional IRA would have to be a non-deducitble IRA. @ Dan W and Dan V.

You can contribute to both a SEP and Traditional IRA. The total deduction you are allowed for both is up to $49,000 which is the cap on annual additions to defined contribution plans for 2009. In the event you were able to contribute more, the tradtional IRA would have to be a non-deducitble IRA.

]]> By: Dan Vhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-200814 Dan V Fri, 18 Dec 2009 16:08:21 +0000 http://www.consumerismcommentary.com/?p=4953#comment-200814 Dan W, I am in the same situation as you. Did you ever get an answer to the question? Dan W, I am in the same situation as you. Did you ever get an answer to the question?

]]> By: jhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-200486 j Wed, 02 Dec 2009 20:06:33 +0000 http://www.consumerismcommentary.com/?p=4953#comment-200486 wow there is a lot of bad information at the beginning of these comments..if this has not been explained already..There are two variables to the deductibility of a Traditional IRA, MAGI And participation in a QRP (Qualified Retirement Plan). If Both spouses do not participate in a QRP, there are NO MAGI limitations to the deductibility of a TIRA contribution...Also there were no inflation increases on IRA limits for 2010..If anyone needs real help on this stuff you can email me. I am a CPA and I specialize in pension law... wow there is a lot of bad information at the beginning of these comments..

if this has not been explained already..

There are two variables to the deductibility of a Traditional IRA, MAGI And participation in a QRP (Qualified Retirement Plan). If Both spouses do not participate in a QRP, there are NO MAGI limitations to the deductibility of a TIRA contribution…

Also there were no inflation increases on IRA limits for 2010..

If anyone needs real help on this stuff you can email me. I am a CPA and I specialize in pension law…

]]> By: Jeff Rosehttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-200431 Jeff Rose Tue, 01 Dec 2009 04:26:55 +0000 http://www.consumerismcommentary.com/?p=4953#comment-200431 @ Melanie. You can most definitely contribute to both. The only thing that MAY happen is that you might not give the full tax deduction for your traditional IRA contribution (It then becomes a non-deductible IRA). It all depends on your AGI (for you and spouse) and whether you have a retirement plan available to you both (you do, of course, but if you have a spouse then that factors in, too). Check out my post on how to qualify for a tax deduction on your traditional IRA contribution http://www.goodfinancialcents.com/2009-traditional-ira-deductibility-contribution-limits/ Good luck! @ Melanie. You can most definitely contribute to both. The only thing that MAY happen is that you might not give the full tax deduction for your traditional IRA contribution (It then becomes a non-deductible IRA). It all depends on your AGI (for you and spouse) and whether you have a retirement plan available to you both (you do, of course, but if you have a spouse then that factors in, too). Check out my post on how to qualify for a tax deduction on your traditional IRA contribution http://www.goodfinancialcents.com/2009-traditional-ira-deductibility-contribution-limits/ Good luck!

]]> By: Melaniehttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-200418 Melanie Tue, 01 Dec 2009 00:20:09 +0000 http://www.consumerismcommentary.com/?p=4953#comment-200418 Can I participate in both my company sponsored traditional 401(k) (max amount: $16,500) and contribute to my traditional IRA in 2009? Any income limitations or restrictions? I have heard varying opinions on this. Thanks! Can I participate in both my company sponsored traditional 401(k) (max amount: $16,500) and contribute to my traditional IRA in 2009? Any income limitations or restrictions? I have heard varying opinions on this. Thanks!

]]> By: Glenhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-200079 Glen Mon, 16 Nov 2009 16:43:24 +0000 http://www.consumerismcommentary.com/?p=4953#comment-200079 I have two daughters whom I have have been advising to make maximum contributions to their Roth IRA s.One has been doing so each year until now. Her entire earning are unemployment benefit so she is not eligible this year.The other has made no contributions since she lives with her boy friend and has no income of her own.I realize if she married her boy friend she could make a contribution but that is not the case and not on the horizon. My question is: What can I do to set up a trust fund that would serve the same function as the Roth IRA s would have?. I have two daughters whom I have have been advising to make maximum contributions to their Roth IRA s.One has been doing so each year until now. Her entire earning are unemployment benefit so she is not eligible this year.The other has made no contributions since she lives with her boy friend and has no income of her own.I realize if she married her boy friend she could make a contribution but that is not the case and not on the horizon. My question is: What can I do to set up a trust fund that would serve the same function as the Roth IRA s would have?.

]]> By: Jeff Rosehttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-198583 Jeff Rose Thu, 24 Sep 2009 14:06:13 +0000 http://www.consumerismcommentary.com/?p=4953#comment-198583 @ SKNInstead of attempting to explain, check out a post I did that walks you through the conversion process: http://www.goodfinancialcents.com/2010-traditional-ira-to-roth-ira-conversion-tax-rules/Let me know if you have any other questions. @ SKN

Instead of attempting to explain, check out a post I did that walks you through the conversion process: http://www.goodfinancialcents.com/2010-traditional-ira-to-roth-ira-conversion-tax-rules/

Let me know if you have any other questions.

]]> By: SKNhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-198579 SKN Thu, 24 Sep 2009 08:55:25 +0000 http://www.consumerismcommentary.com/?p=4953#comment-198579 I currently have $11,000 in my traditional ira and am thinking of converting to a roth ira. Since I've already contributed $4,000 to my traditional which is deductible, does that net with the $11,000 I'm converting? So that at the end of the year, I'll only have to pay taxes on $7,000? Is that how it works?Thanks! I currently have $11,000 in my traditional ira and am thinking of converting to a roth ira. Since I’ve already contributed $4,000 to my traditional which is deductible, does that net with the $11,000 I’m converting? So that at the end of the year, I’ll only have to pay taxes on $7,000? Is that how it works?

Thanks!

]]> By: Bob Howardhttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-198242 Bob Howard Fri, 11 Sep 2009 21:54:27 +0000 http://www.consumerismcommentary.com/?p=4953#comment-198242 Are IRA distributions taxable this year--2009? I heard a rumor they arent because of the state of the economy. Bob Howard Are IRA distributions taxable this year–2009? I heard a rumor they arent because of the state of the economy.
Bob Howard

]]> By: Scotthttp://www.consumerismcommentary.com/2009/01/01/traditional-and-roth-ira-contribution-limits-for-2009/#comment-197535 Scott Fri, 21 Aug 2009 16:26:15 +0000 http://www.consumerismcommentary.com/?p=4953#comment-197535 I just STOPPED contributing to my 401k at work and opened a Roth IRA on my own instead. I'm 43 and make $36,000/year. I contributed about $3000 to my 401k for 2009. How much can i contribute to my new Roth IRA for 2009? Does the 401k have anything to do with the limit? I just STOPPED contributing to my 401k at work and opened a Roth IRA on my own instead. I’m 43 and make $36,000/year. I contributed about $3000 to my 401k for 2009. How much can i contribute to my new Roth IRA for 2009? Does the 401k have anything to do with the limit?

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