The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: 403B to trad IRA to Roth Date:  2/5/2004  5:49 PM
Author:  2old4bs Number:  38950 of 88775

Susie Q,

I agree with Paulleckler that you should contact a representative where you intend to hold the Roth account.

However I am pretty sure that you will first have to rollover into a Traditional IRA, and then convert that to a Roth, but the rep should be able to handle all of this for you.

As Paul stated you can rollover the whole amount. You can't pay the taxes out of the Roth, because you can't withdraw funds from a Roth conversion until 5 years have elapsed. I also wouldn't advise paying it out of the Traditional IRA because you will have to pay more taxes plus a 10% penalty (UGH).

Pay the taxes out of something else--it'll be worth it.


Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us