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Posted: 1/2/2002 11:21:09 AM EST
I called the IRS today with my question. They said I could not so I guess that is it. What do you think? I retired from the Army in 1991 and am drawing my pension, not a lot but it is OK. I then taught in a Texas public school district that does not pay into social security. I quit on June 1st 2001 and am retired full time now. In order not to incur the reduction of my social security benefit when I reach the qualifing age I am withdrawing my contributions to the TRS (Texas Teachers retirement system). I thought it would be neat if I could contribute 3500K to my roth IRA from this money since they will pay me this year and withold 20% this year, 2002. The IRS said no it had to be from wages earned this year. Darn. John
Link Posted: 1/2/2002 11:29:59 AM EST
I'm not a tax expert and I didn't even stay at a Holiday Inn last night. I'm also not an investing expert and any opinions I may give you could possibly lose all of your money. That being said, I say dump it all in Texas Instruments (TXN) stock. As soon as the market hints at picking back up it should go through the roof. My future machinegun purchases are banking on it.[:O]
Link Posted: 1/2/2002 11:33:44 AM EST
Link Posted: 1/3/2002 2:51:54 AM EST
Thanks, I'll look into it. John
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