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I have a self-employed 401k, and I want to rollover a traditional IRA into it. My self-employed business has no income this year, and I'm wondering if the rollover is allowed without tax penalties.

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Limitations of money you earn only applies to contributions. Transfers, rollovers and conversions don't require income. Gap years are great times to do conversions etc. that may have tax consequences.

  • Thank you for the reply. Do you know of any resources where I can read more on this to help settle my concern? (Or can you give me more on your background?) – Dolan Antenucci Dec 17 '17 at 20:24
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    I would try Pub. 590 and irs.gov/retirement-plans/plan-participant-employee/… ..... My credentials are I'm the only person who wrote an answer. Seriously, i did it after doing my own research and satisfying myself it was allowed, and the IRS didn't flag it... – Harper Dec 17 '17 at 20:33

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