Rollover Ira Into Roth Ira
February 6th, 2008
Question: Does my 403b rollover into an IRA count toward my IRA contributions for the year?
I rolled a 6-year-old, dormant 403b into an IRA recently, and now I want to do a maximum contribution to a Roth IRA. Did the rollover amount count toward my contributions for the year?
Answer: No, not at all — not for your Roth and not for your 403b contributions for the current year. It’s no different than if you sold one fund and both another inside your 403b.
Doug
Converting to a Roth IRA with Doug Flynn, CFP on CNN’s Your $$$$$ with Ali Velshi
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