2930987
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Is rollover from old employer's retirement plan to "rollover IRA" considered as "contribution" to a traditional IRA?

Turbotax line asks "tell us if you made a contribution to a traditional IRA for 2022"
(Note: answer yes if you plan to make a regular contribution by April 18,2023, or if you contributed to traditional IRA and later transferred some or all of that money to a Roth IRA)

I only rolled over from old employer's plan to rollover IRA. I did not make regular contribution and not planning to make until April 18. And I did not transferred the money in rollover IRA to Roth IRA.
Thanks
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Cynthiad66
Expert Alumni

Is rollover from old employer's retirement plan to "rollover IRA" considered as "contribution" to a traditional IRA?

No.  A rollover of this type is separate from contributions.  

 

It is not considered as a contribution.  A regular contribution is the annual contribution you're allowed to make to a traditional or Roth IRA: up to $6,000 for 2020-2021, $7,000 if you're 50 or older (see IRA Contribution Limits for details). It does not include a conversion or any other rollover.

 

FAQ IRA

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question