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Apr 18, 2014
2:42
:19
pm
Iman23
Correct.
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Iman23
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Iman23
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Jan 18, 2008
Last login
Apr 19, 2024
Total posts
42,450 (2,699 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.
WhoisJohnGalt
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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