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Level 1
June 1, 2019
Solved

Is a rollover from 401k to IRA deductible?

  • June 1, 2019
  • 1 reply
  • 21 views
I left my job and as a result, the money in my 401k was rolled over to an IRA. I did not make any contributions to the account after the rollover. Is the rollover deductible?
Best answer by KrisD15

No,

it is not deductible, nor is it taxable if you rolled it over properly.

If it was:

  • done within 60 days
  • or Trustee-to-trustee
  • or Direct rollover

Here is more information:


https://www.irs.gov/retirement-plans/plan-participant-employee/rollovers-of-retirement-plan-and-ira-...


1 reply

KrisD15
KrisD15Answer
Level 15
June 1, 2019

No,

it is not deductible, nor is it taxable if you rolled it over properly.

If it was:

  • done within 60 days
  • or Trustee-to-trustee
  • or Direct rollover

Here is more information:


https://www.irs.gov/retirement-plans/plan-participant-employee/rollovers-of-retirement-plan-and-ira-...


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