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Are you also saying here that one cannot convert an annuity to an IRA and then to a Roth IRA?

I had a 401k from a previous job that I had converted into a variable annuity. Not an intelligent move, however, I would now like to move this into an IRA and then into a Roth IRA where I can invest in stocks at my discretion. Is this possible?

Also, please confirm this: Once this gets into a Roth IRA (if it is possible), I cannot contribute to this particular account for 5 years. However, I can contribute to another Roth IRA account starting the year after I made the annuity-to-IRA-to-Roth IRA transfer.

Thanks for input!
- Red
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