Quantcast

Ask The Expert: Rollovers

Q: If $5500 is the annual contribution limit, can you convert a 401k with more than $5500?
See other answers from this expert. 53 out of 110 people found this useful.
A:

You are correct. A Roth IRA rollover is not subject to the contribution limits. Just keep in mind that you will owe taxes on the total amount of your 401k conversion. This can make sense depending on your personal situation, but it's always advisable to review with a tax expert.

Was this answer useful?