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Author: dccowboy Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121114  
Subject: Tax Deduction - 401K to IRA Date: 3/5/2001 10:31 AM
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I have recently rolled my 401K to an IRA. I have read all the IRS regs. and Fool discussion boards and can find no information on how much I am able to deduct (if any) from my taxes. My company never matched any amount of my contributions to the 401K so the entire amount rolled was sole contribution by me. Any help would be greatly appreciated.
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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47694 of 121114
Subject: Re: Tax Deduction - 401K to IRA Date: 3/5/2001 11:01 AM
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I have recently rolled my 401K to an IRA. I have read all the IRS regs. and Fool discussion boards and can find no information on how much I am able to deduct (if any) from my taxes. My company never matched any amount of my contributions to the 401K so the entire amount rolled was sole contribution by me.

You can't deduct anything. Your 401(k) contributions were excluded from your income when you made them. You don't get to exclude them again when you move them to an IRA.

Phil Marti
VITA Volunteer

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