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There's Still Time to Contribute to an IRA

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7/29/2019 There's Still Time to Contribute to 2012 IRA

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Even if you can't make an annual contribution to a Roth IRA because of the income limits, there's an easy workaround. If you haven'tyet reached age 70, you can simply make a nondeductible contribution to a traditional IRA, and then immediately convert thattraditional IRA to a Roth IRA. Keep in mind, however, that you'll need to aggregate all traditional IRAs and SEP/SIMPLE IRAs youown--other than IRAs you've inherited--when you calculate the taxable portion of your conversion.

Finally, keep in mind that if you make a contribution to a Roth IRA for 2012--no matter how small--by your tax return due date,and this is your first Roth IRA contribution, your five-year holding period for identifying qualified distributions from all your RothIRAs (other than inherited accounts) will start on January 1, 2012.

IMPORTANT DISCLOSURES

Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented hereis not specific to any individual's personal circumstances.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer forthe purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax

professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information fromsources believed to be reliablewe cannot assure the accuracy or completeness of these materials. The information in thesematerials may change at any time and without notice.

Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2013

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