I've already made my contribution for 2007 and am saving toward 2008. Do I have to wait until I've earned $5000 in 2008, or can I just do it on Jan 2 knowing in good faith that I'll qualify? Would I have to wait until my March 1st paycheck (for the first two months to >$5g net), or could I do it sometime after I had "earned" $5k net, even if I hadn't yet recieved compensation for that yet?
You can make your 2008 contribution at any time during the period of January 1, 2008 - April 15, 2009.
