- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
There are no limits on rollover contributions (box 2 on the Form 5498). The annual and MAGI limitations only applies to regular contributions (box 1). Of course to be a rollover the funds had to come from a qualified account. Nothing prohibits you from rolling over to a Roth IRA any from your traditional 401(k) account that is not a required minimum distribution. The code-G Form 1099-R indicates that no RMD is involved.
(There used to be AGI limitations on Roth conversions, but that limitation was eliminated for tax year 2010 and beyond.)
‎October 4, 2023
11:39 AM
697 Views