Upon retirement, is a lumpsum pension rolled over to an IRA to be included in total IRA value when reporting nondeductible contributions to an IRA?

vf · ‎June 1, 2019

MaryK1 · ‎June 1, 2019

No, a rollover is not a contribution. When you made the 401k contributions through your work/salary, it was pre-tax. If you enter it as nondeductible you will not have to pay tax on it when you withdraw it.

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MaryK1 · ‎June 1, 2019

No, a rollover is not a contribution. When you made the 401k contributions through your work/salary, it was pre-tax. If you enter it as nondeductible you will not have to pay tax on it when you withdraw it.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Upon retirement, is a lumpsum pension rolled over to an IRA to be included in total IRA value when reporting nondeductible contributions to an IRA?