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Get your taxes done using TurboTax
There is a big difference between a contribution and a rollover. A rollover is an unlimited number. You can roll $500,000 over to a ROTH from somewhere legally allowed. But the contributions are limited, as you state.
See Retirement topics - IRA contribution limits states:
The IRA contribution limit does not apply to:
- Rollover contributions
- Qualified reservist repayments
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‎February 6, 2025
4:47 PM