IRA Rollover

heuiim asked:


I have the following retirement accounts; Traditional, Roth, SEP IRA, as well as 401k account from my previous employer. My question is;
1. If I rollover my 401K to SEP-IRA, can I still contribute 20% of my self-employment income to SEP-IRA? (Does my rollover counts towards this limit?) Also, if I do the roll-over, can I deduct the roll-over amount when I file my taxes next year?
2. What if I roll-over my traditional IRA to SEP-IRA?

Please let me know. Thanks!

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fhgkneifl asked:


I rolled over this 401K in April 2007 from a change in employers (I quit and started a job with another employer). However, I have to rollover the 401K to a Traditional IRA (preferably) because I just got fired (lawsuit pending) from my current employer. Is there anyway I can do this quickly and without incurring a penalty?

Thanks,

Jon

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Golfdog asked:


I have 3 years to retire and I have about 500K if that makes a difference.

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