quick ? for rollover 401k to IRA account. Does it count against your personal contributions of 6k per year?
Im on the phone with ADP right now to rollover some old funds
No it doesn't. I got a separate traditional IRA for that. I can't contribute to my new job's 401k until October (have to be here a year) so I gotta use an IRA for now. I max out the 401k deductible tax limit every year (arouund 18-19k) to help reduce my taxable income. But my dumb ass didn't know you can do 6k a year on IRAs too. With my wife that's 12k. We've had to pay the feds every damn year for like 10 yeas now even though we don't claim any federal allowances or dependents on our W-4s