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Author: jrr7 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75529  
Subject: Re: IRA vs 401K Date: 12/10/2001 3:43 PM
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skyeatl,

What you may be confused about is the distinction between contributions and rollovers/conversions. When you moved out of your former company, you opened an IRA and rolled over the 401(k) money to the IRA. That was not counted as a contribution.

There's no limit on the amount of rollovers you can do, but there is a limit on the amount of contributions (you write a check out of your bank account) you can make. Likewise, your contributions to the 401(k) are limited.

The sum of your contributions to all IRAs you own must be less than $2000 (this year; going up next year).
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