If my wife and I want to contribute $4,000 annually to a ROTH, do we setup one joint account or do we need to setup two accounts for $2,000 each? Actually, *CAN* we contribute $4,000 annualy or is the limitation actually $2,000 regardless of filing status? Also, can I still contribute $4,000 for 1998 tax year up to Apr 15 1999 plus $4,000 for 1999 tax year?

My current situation that may affect the answer is this:
-- Married filing jointly
-- Contribute to 401K
-- Have an existing roll-over IRA from prev. employer 401K
-- No other IRAs
-- Do not intent to convert roll-over IRA to ROTH
-- Income appx. $100,000

thanks
joel

Must set up separate accounts, joint accounts are not allowed.
Limit is $2,000 annually per qualifying individual, so for joint filers that qualify, the limit is $4,000 total(2,000 each).
You can contribute for the 1998 tax year up to 4-15-99.
You can contribute for 1999 tax year also. So you can contribute a total of $8,000 ($2,000 each for 1998 and 1999)