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Default How many levels of an IF statement is allowed within a Nested IF?

I need to test different issue's within a cell. Here is an example. When I
speak of levels it is in reference to actual levels not the number of IF's.

=IF($G5="M","T1",0)
"T1"
IF(OR(YEAR($B5)=$AU$3,$F5="Full",$F5="BMP",$F5="CB C",$F5="RVP",$F5="UA"),0,"F2")
" F2" IF($H5="D","T3","F3")
"T3" IF($U5="Yes",$AV326,"F4")
"F4" IF($B5RollUp!$AR$15,0,"F5")
"F5" IF($B5<RollUp!$AR$15,$K5,"F6")
"F6" IF(SUM(Activity!$AM$326+$K5)<RollUp!$AT$6,$K5,SUM( $K11*0.2))
-------------------------------------------------------------------------------------------------
"F3" IF($U5="Yes",$AE326,"F4A")
"F4A" IF($B5RollUp!$AR$15,0,"F5A")
"F5A" IF($B5<RollUp!$AR$15,$K5,"F6A")
"F6A" IF(SUM(Activity!$V$326+$K5)<RollUp!$AR$4,$K5, SUM($K11*0.2))

 
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