So, when you roll over a traditional 401 (k) to a Roth IRA, you’ll owe income taxes on that money in the year when you make the switch. The total amount transferred will be …
You may also want to consult a financial advisorto make sure this move is the right one for you. Roll Over Your 401(k) to a Traditional IRA, Then Convert It to a Roth IRA. Contributions to your 401(k) plan were pretax. This means your employer deducted them from your taxable salary when reporting your income to the IRS.
401(k) to Roth IRA Conversion: Rules & Regulations – Investopedia
Not every company allows employees to convert an existing 401 (k) balance to a Roth 401 (k). If you can’t convert, consider making your future 401 (k) contributions to a Roth account rather than a…
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