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Employer 401k Rollover

Bogleheads • View forum - Investing - Help with Personal Investments - www.bogleheads.org
I have about 7k in a company 401k, but am leaving the company for a different one.

If I roll this over to an IRA at Vanguard and subsequently join another company that has a 401k plan, can I deduct the 7k on my taxes that I rolled over since it was initially in a 401k?

I ask because the limit on an IRA is only 5,500, and further, if one is covered by an employer's 401k plan and makes over a certain amount (which I do), then there is no deduction allowed at all.

What's the best thing to do here?

Thank you for any help.
Date: Aug 18, 2017   


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