Whatever you roll over is considered income in the year you roll it over.

Sign up, and you can make all message times appear in your timezone. Sign up

Report problem with this ad

Apr 18, 2014
2:37:28pm

Iman23

Whatever you roll over is considered income in the year you roll it over.

Report problem with this ad

Iman23

Bio page: Iman23
Joined: Jan 18, 2008
Last login: May 1, 2024
Total posts: 42,577 (2,716 FO)

Report problem with this ad

Messages

Author

Time

Transferring 401k from Traditional to Roth

UVCoug

4/18/14 2:35pm

Whatever you roll over is considered income in the year you roll it over.

Iman23

4/18/14 2:37pm

It's actually a conversion, not a rollover, but you're right about the taxation.

Byron McNertney

4/18/14 2:40pm

Correct.

Iman23

4/18/14 2:42pm

Plus combined with your 2014 income and taxed usually at a higher rate.

BYUCPA

4/18/14 2:40pm

RE: Whatever you roll over is considered income in the year you roll it over.

UVCoug

4/18/14 2:40pm

Is the traditional 401k with your current employe?

The Old Y

4/18/14 2:42pm

Yes

UVCoug

4/18/14 2:42pm

Then call your HR/401k guy and ask this:

The Old Y

4/18/14 2:46pm

If so, then they probably allow you to start contributing to a Roth 401k without

The Old Y

4/18/14 2:43pm

I believe the transfer will create a tax consequence in the year of the transfer

Jersey hunter

4/18/14 2:40pm

Wait, let me make sure I understand you right.

4/21/14 4:36pm

I need to do this myself.

Byu4life

4/18/14 2:43pm

Here's my view of what you can do.

BYUCPA

4/18/14 2:56pm

If you could choose a % to go in a Roth and the rest into a traditional 401k,

bluebooks

4/18/14 4:25pm

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad