The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Simple question about 401k-to-IRA conversion||Date: 2/24/2011 1:59 AM|
|Author: chopsueycp||Number: 68532 of 73907|
I just left my old company and I want to convert my 401k to a regular old IRA (not a ROTH), so that I can have my own investment options.
I have a few questions about this:
1) Do I pay taxes on this rollover?
2) Do I have to even acknowledge this rollover in my taxes?
3) Will I still be able to take a loan on this money, or does the rollover to the IRA make this impossible?
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|