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

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Apr 18, 2014
2:37:28pm

Iman23

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

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Iman23

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

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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

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