No. of Recommendations: 0
I recently took a distribution from one of 4 retirement plans I have accumulated over the years. It was in the neighborhood of $7000, which resulted in about $5800 coming to me. I am looking to reinvest as much as $3000 of it back into an IRA. Will all of this be deductible, or does it fall under the yearly limit on IRA contributions? Anybody know? I'm just concerned that since it is not a roll over, all of what I put back may not be deductible. If it isn't I'll invest elsewhere since I am already conceding that i will pay some penalty.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.