I made tax-free rollover from an annuity to a traditional IRA. I received a 1099-R for this rollover. Can I still make a contribution of $8,000 to another IRA?

[SabrinaD2 · Accepted solution]

Yes, you can still make a contribution of $8,000 to another IRA, even after making a tax-free rollover from an annuity to a traditional IRA. The rollover does not count towards your annual contribution limit.  However, if you choose to contribute directly to the IRA after your rollover, you'll be subject to the income eligibility requirements here.

For 2025, the IRA contribution limits are:

• $7,000 for individuals under age 50
• $8,000 for individuals aged 50 and older

You can find more details on IRA contribution limits and rollover rules in these  Empower and Kiplinger articles

[lduboue]

Sabrina, thank you for your answer. It answered my question