*depending on your income. There are income limits which affect how much can be deducted from taxes.

Rolling over? Really just depends if you are happy with what your 401K is doing in terms of investment options, fees, etc.
If you are okay with all that, then I don't think there's any reason to roll it over.
But from what I experienced, 401k plans tend to be more expensive for no reason, so I would rollover

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