Quote:
Originally Posted by johny
no withdrawn money can only be refilled the following calender year.
IE if I withdraw $2000 this year, next year I can put in 7k. 2k withdrawn money and 5k for next years limit.
if you've already put in the 5k this year you can't put any back in this year if you take it out.
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Another rule people need to be aware of is if the value of your investment goes down and you make a withdrawal, IE you put in $5000 this year in some stocks and you make a withdrawal when the market value of your stock is $3000, you will only have $8000 of contribution room next year, not $10000.