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Goldie232
New Member

Can I count a roll over from a work retirement savings account into an IRA as an IRA contribution?

 
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2 Replies

Can I count a roll over from a work retirement savings account into an IRA as an IRA contribution?

No. A roll over and a contribution are two different things. 

ErnieS0
Expert Alumni

Can I count a roll over from a work retirement savings account into an IRA as an IRA contribution?

No. IRA contributions have to be a contribution of new money. A rollover from a 401(k) plan to an IRA is called a "rollover." It is not a contribution.

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