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I transferred money from my retirement contribution plan to my Rollover IRA account.Can I deduct this as a IRA contribution ?

 
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I transferred money from my retirement contribution plan to my Rollover IRA account.Can I deduct this as a IRA contribution ?

No......doing so is improper.

You'll likely get a 1099-R form for the removal from the former plan, and you'll enter it in the software....and indicate that the $$ were rolled over to an IRA in the followup questions after the main form.    If you are able to import the 1099-R form, you may have to edit the form so that you can get those rollover questions.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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I transferred money from my retirement contribution plan to my Rollover IRA account.Can I deduct this as a IRA contribution ?

To a Traditional IRA, or to a Roth?

I transferred money from my retirement contribution plan to my Rollover IRA account.Can I deduct this as a IRA contribution ?

No......doing so is improper.

You'll likely get a 1099-R form for the removal from the former plan, and you'll enter it in the software....and indicate that the $$ were rolled over to an IRA in the followup questions after the main form.    If you are able to import the 1099-R form, you may have to edit the form so that you can get those rollover questions.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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