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Now, my husband would like to start making personal contributions to this IRA--fully realizing that the actual 401K $$ will not be eligible for transfer to another employer plan if "tainted" with personal contributions...but Scottrade says personal funds cannot be added to this "rollover" IRA, & have instructed my husband that he must set up a traditional IRA with Scottrade...& then transfer the holdings from "rollover IRA" to this newly opened "traditional IRA". This is confusing,

It is also nonsense. There is nothing in tax law that prohibits contributions to this account. If your husband wants to keep his account at Scottrade I suggest he find someone up the food chain from the person who told him this. If it turns out that this is a Scottrade "policy," move the account to a custodian who understands that it's your money, not theirs.

Phil Marti
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