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I contributed $4000 to 401k. Got layoff and rolled 401k to IRA. Can I still contribute $6500* to IRA for 2014? (*over 50)?
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- JackLv 67 years agoFavorite Answer
If you have $6500 in earned income in 2014 you can.
But if you do not yet have a job, you shouldn't. You should probably hold onto that $6500 to make ends meet until you find employment.
- Anonymous7 years ago
If you have earned income, yes you can. A rollover is not a "contribution" to a retirement account.
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