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re: If I rollover my former employee's 401k to my IRA

Posted on 12/21/14 at 9:35 pm to
Posted by lsufan_26
Member since Feb 2004
12559 posts
Posted on 12/21/14 at 9:35 pm to
Pretty sure $5500 is for traditional as well, as long as you are under 50
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 12/22/14 at 6:32 am to
The limit for both are the same and you can only put $5500 per year into one or the other. As for the rollover, because it is a rollover and not a contribution it will not count as your current year contribution.
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