Q. I have several 401(k) plans from prior employers. Am I limited to one rollover to an IRA for 2010? D.K., Armonk, N.Y.
A. No. You can roll over from multiple 401(k) plans to IRAs in the same calendar year. There’s no restriction on the number as long as you meet the basic requirements. You’re probably confusing these rollovers with the one-year limit on IRA-to-IRA rollovers. Generally, if you roll over funds from one IRA to another, you then can’t roll over funds from either IRA for at least one year.
Tip: The one-year prohibition doesn’t extend to any other IRAs you may own.
- Small Business Tax Deduction Strategies No matches