I have a small traditional IRA that I cannot deduct any contributions due to coverage by pension plan and income limitations. At this time the majority of the IRA is in CDs. I am looking at purchasing some stock now but don't have enough cash available in my IRA. Can I make a contribution to my IRA, purchase the stock, then in a month or so, when my CDs mature, remove the excess contribution (and any income made by the excess contribution). It would be more than $6000. Thanks, Joe
- posted
14 years ago