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I have rollover IRA & HSA accounts all pre tax from previous employeer, cannot invest in Roth IRA becoz of salary limit. Can I invest in Tradtional IRA w/o any tax issue?
Based on my understanding, the Traditional IRA contribution limit for 2024 is $7,000. I want to ensure there are no pro-rata rules or other restrictions that could prevent me from contributing or complicate my taxes, especially since I have a Rollover IRA with pre-tax funds from a previous employer and a current 401(k) with both pre-tax and post-tax contributions within the yearly limit. I would appreciate your guidance. Thank you.
‎December 10, 2024
6:29 PM