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S
sunander
March 18, 2020
Question

rollovers

  • March 18, 2020
  • 1 reply
  • 0 views

monthly payments from a school pension program are offset by contributions to an IRA. Can this be reported as a rollover?

 

    1 reply

    VolvoGirl
    VolvoGirl
    Employee
    March 18, 2020

    No.  The pension is taxable income.  You might be able to deduct IRA contributions if you have other earned income from wages or a Net Profit from self employment income. 

     

    You can not rollover a pension.  Unless it is from a 401K Account.

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