Hello fellow Mustachians,
I've recently switched jobs in Feb and my new employer does not provide a 401k plan. I thought I could open a traditional IRA and contribute up to $5500 tax free for 2017, but after doing some research I discovered that since I contributed in my previous employer's 401k plan (< $2000) for the first two months of 2017, I'll be considered as making contributions to the 401k for the entire year, even though I can't actually contribute anymore to my previous employer's 401k plan. What can I do to decrease my tax burden/taxable income for the year? Could I rollover my "old" 401k into a traditional IRA and be able to contribute up to the $5500 tax free?
Thanks in advance for your help!