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Subject:  Simple question about 401k-to-IRA conversion Date:  2/24/2011  1:59 AM
Author:  chopsueycp Number:  68532 of 88103

Hello Fools,

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?

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