Tax Deduction IRA

    I rolled over a 401k from a company I no longer worked for for about 2 yrs now, to an IRA. I know next years taxes I will have to pay because it was pre-tax dollars. I am wondering if a contribution to a traditional IRA before April 15th from this 401 K rollover, if I can report the 5K max contribution for my 2010 taxes?

    0  Views: 605 Answers: 1 Posted: 12 years ago

    1 Answer

    So sorry you didn't get an answer when you needed it, three years ago.  If you stumble across this site again, I hope you were able to get the information you needed and make the right contributions to lessen your tax burden. 

    I was able to make an IRA contribution last year equal to the paltry sum I earned. Each year, I am advised by my tax preparer (who has worked for the same accounting firm for over 25 years) what I can do to lessen my tax burden.  Get someone you trust to help you file the most cost effective tax return you can.  I actually got a small refund this year.  

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