IRA contribution versus rollover

EJBJ · ‎April 16, 2022

My wife transferred money from her school retirement plan to a traditional IRA. Are we correct to assume that is considered a rollover and not a contribution, which has different tax deduction implications?

MaryK4 · ‎April 16, 2022

Yes, moving money from one retirement account to another is a rollover, not an additional contribution for the year.

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MaryK4 · ‎April 16, 2022

Yes, moving money from one retirement account to another is a rollover, not an additional contribution for the year.

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IRA contribution versus rollover