- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
If I'm moving funds from a 403(b) retirement account into a traditional Roth IRA before April 2017, is that considered a traditional IRA contribution?
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
If I'm moving funds from a 403(b) retirement account into a traditional Roth IRA before April 2017, is that considered a traditional IRA contribution?
No such thing as a traditional Roth IRA. You either have a traditional IRA or a Roth IRA. In order for your 403(b) retirement funds to be not taxable, you need to roll them into a Traditional IRA.
A rollover is not a contribution. You would need to roll over the funds to a traditional IRA, then make a contribution after the rollover, to count as an IRA contribution.
See chart below.
https://www.irs.gov/pub/irs-tege/rollover_chart.pdf
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
If I'm moving funds from a 403(b) retirement account into a traditional Roth IRA before April 2017, is that considered a traditional IRA contribution?
No such thing as a traditional Roth IRA. You either have a traditional IRA or a Roth IRA. In order for your 403(b) retirement funds to be not taxable, you need to roll them into a Traditional IRA.
A rollover is not a contribution. You would need to roll over the funds to a traditional IRA, then make a contribution after the rollover, to count as an IRA contribution.
See chart below.
https://www.irs.gov/pub/irs-tege/rollover_chart.pdf
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
If I'm moving funds from a 403(b) retirement account into a traditional Roth IRA before April 2017, is that considered a traditional IRA contribution?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
If I'm moving funds from a 403(b) retirement account into a traditional Roth IRA before April 2017, is that considered a traditional IRA contribution?
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
If I'm moving funds from a 403(b) retirement account into a traditional Roth IRA before April 2017, is that considered a traditional IRA contribution?
**Mark the post that answers your question by clicking on "Mark as Best Answer"