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Does a rollover of my 401k to a traditional IRA count as a contribution?

I had a 401k plan at a previous employer.  I performed a direct rollover of the funds in my 401k to a traditional IRA set up at my financial institution.  Does that rollover count as a contribution to my IRA?  The statement for the traditional IRA shows the amount I rolled over under "YTD 2016 Contribution."
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1 Reply
MargaretL
Expert Alumni

Does a rollover of my 401k to a traditional IRA count as a contribution?

No, a rollover is not a contribution. A rollover therefore does not impact your eligibility to actually make a contribution to an IRA...

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