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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (947)	5/16/1998 7:15:00 PM
From: Kurt N	Read Replies (1) \| Respond to of 5810

Suppose you contributed $1500 to a 1998 Roth IRA, and have $300 in cash. You place a trade using a limit order and taking into account the commision that is what you are supposed to be charged to occupy the $300. Brokerage over-charges the commision, but does NOT correct it within the T+3 deadline leaving a negative cash balance of $15.50 and corrects it afterwards. If the correct commission were charged the account would have a positive cash balance of $10 Am I screwed, even though I just opened this IRA 2 weeks ago?? Will read IRS Pub 590. Maybe it is OK since the full $2,000 hasn't been contributed. Kurt