Retirement tax questions

As I understand it ,once you made a contribution into a Rollover IRA, it ceased to be a Rollover IRA.

Also as I understand it, this distinction regarding rollovers back into a 401k no longer has meaning due to Tax Code changes.

 

In any case, you're better off getting out of a 401k rather than into a 401K, since an IRA has more flexibility.

But with a 401k your employer may match some percentage of your payroll contribution.

The employer is not going to match anything you roll in.

 

If you have a 401k (retirement plan) at work you may or may not be able to deduct an IRA contribution.