4 comments so far...

• TedEx Said on February 28th, 2010 at 12:30 pm:
  

  Nope! A rollover is just that. It comes ‘in” on one line and “out” on another.
  You show it for information purposes only.
  (smart move)

• Cid Young Said on February 28th, 2010 at 12:49 pm:
  

  Not unless the contributions were made for the same year, Then only that year’s contribution would count toward the $4,000 limit. The rest is treated as a previous year’s roll-over.
  If it is for the current year, you can request that the overage amount be removed from the 2007 contribution and credited to next year (In 2008). Ask them how to do it. They should know the rules. You probably will have to do it before the time you flie the 2007 taxes or you’re screwed.

• digdowndeepnseattle Said on February 28th, 2010 at 12:52 pm:
  

  the first answer is 100% correct. The second? not even close.

• mister ed Said on February 28th, 2010 at 1:07 pm:
  

  not to worry it was just a transfer with the retirement system!!!t