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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)?

3 Answers

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  • Jack
    Lv 6
    7 years ago
    Favorite 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.

  • Anonymous
    7 years ago

    If you have earned income, yes you can. A rollover is not a "contribution" to a retirement account.

  • ?
    Lv 7
    7 years ago

    yes

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