MaryK4
Expert Alumni

Retirement tax questions

No, the rollovers do NOT count as contribution for the annual limit.  If you still have a excess contribution, you can designate for 2025 for the corrective contribution, but you must be qualified to make the 2025 contribution (so you must have compensation).  Because you are no longer taxed on the earnings for the excess contribution, you do not have to make any changes/entries on your tax return.

 

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