Making Cents: Changing Your IRA
If you quickly threw some money into a mutual fund to make sure you had an IRA deduction by April 15, review your decision now. You might prefer another fund in the same family--usually it’s a simple switch. Or you could transfer funds elsewhere, although that requires some paperwork. And if you have the money, why not make the 1997 contribution now. You start earning tax-deferredreturns sooner.
For the record:
12:00 a.m. June 9, 1996 For the Record
Los Angeles Times Sunday June 9, 1996 Home Edition Business Part D Page 3 Financial Desk 2 inches; 41 words Type of Material: Correction
IRA contributions--A “Making Cents” item on June 2 suggested making a “1997 IRA contribution” now. The idea was to make the deposit for this tax year now, instead of in early 1997. IRA contributions for a particular year can be made any time between Jan. 1 of that year and April 15 of the next year.
