JerT Posted November 8, 2018 Share Posted November 8, 2018 Hi, I’m taking a lump sum pension payment, and plan on rolling it to a new IRA account. I already have a different Roth IRA account. Can I still put the max ($6500) into my existing Roth IRA this year, or does the lump sum pension payment max me out for 2018? Thank you. Link to comment Share on other sites More sharing options...
CJ Allen Posted November 8, 2018 Share Posted November 8, 2018 Yes, you may contribution to your Roth (based on meeting compensation limits), even if you have a rollover contribution from an employer qualified retirement plan to an IRA. Trustee-to-Trustee transfers and Rollovers do not count as actual contributions for the IRA contribution limits. ERPA Link to comment Share on other sites More sharing options...
JerT Posted November 8, 2018 Author Share Posted November 8, 2018 53 minutes ago, CJ Allen said: Yes, you may contribution to your Roth (based on meeting compensation limits), even if you have a rollover contribution from an employer qualified retirement plan to an IRA. Trustee-to-Trustee transfers and Rollovers do not count as actual contributions for the IRA contribution limits. Great. Thank you for the reply. Since I will now have trad IRA, Roth IRA, and 401k accounts, are there any restrictions on having all 3 at once (other than the usual contribution limits)? Link to comment Share on other sites More sharing options...
Mike Preston Posted November 8, 2018 Share Posted November 8, 2018 No. Link to comment Share on other sites More sharing options...
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