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Can I split my IRA contribution between my two Traditional IRAs?

Last Updated April 2, 2009

Question: 

 Can I split my IRA contribution between my two Traditional IRAs?
 

Answer: 

Yes. Providing your aggregate contribution does not exceed $4,000, or $5,000 if you are at least age 50 by year-end. However, consider whether it is practical to do so as two sets of fees may apply.