- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
‎December 16, 2021
7:37 PM