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Financial Planning / Tax Strategies
|Subject: Elementary, my dear watson||Date: 2/4/2000 8:31 PM|
|Author: Goofyhoofy||Number: 27238 of 122638|
I'm quite sure this is a simple one, and I've had such great luck on this board before I thought I'd ask...
I have a 401(k) still with a former employer. It's about $500,000; they tell me that if I roll it out, around $100,000 will be taxable because it was "after tax" contributions. Can you tell me the rate at which it will be taxed? (I'm currently in the ~~40% bracket, and I'm thinking that's the answer, but I don't know.)
I also have a chunk at MSDW which I'm thinking of rolling into the same self-directed IRA (at Schwab) and I assume (and I know how to parse that word) that there won't be any tax implications there, as long as I do it right. Right?
[I've let this linger for far too long, but along with the 401(k) I have at my current employer, the list of "funds" and such is getting ridiculous. And besides, I think I can do better myself. Based on results of my regular port over the past 15 years, I'm sure of it.]
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