You can contribute the money you distribute from a QTP to an IRA, but it is not a tax-free rollover and is subject to the annual IRA contribution limits. In 2013, you can contribute up to $5,500 to an IRA, or $6,500 if youâre 50 or older. You cannot contribute more than your gross income.ou can contribute the money you distribute from a QTP to an IRA, but it is not a tax-free rollover and is subject to the annual IRA contribution limits. In 2013, you can contribute up to $5,500 to an IRA, or $6,500 if youâre 50 or older. You cannot contribute more than your gross income.
Best Answer: Status quo is a Latin term meaning the present, current, existing state of affairs. To maintain the status quo is to keep things the way they presently are. Compare it with status quo ante, meaning the state of things as it was before.. Source(s): Cristi@n Â· 10 years ago.
From a legal perspective, quid pro quo indicates that a good or service has been traded for something of equal value. In particular, quid pro quo is used explicitly to indicate that there has been consideration in a contract, meaning that there are goods or services being delivered and that acceptable payment is made for these goods or services. Without consideration, or quid pro quo, for example, a contract may be determined to be nonbinding and invalid.