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Subject:  Re: Simple question about 401k-to-IRA conversion Date:  2/24/2011  2:17 AM
Author:  chopsueycp Number:  68534 of 88778

Regarding #3:

Will I still be able to take a loan on this money, or does the rollover to the IRA make this impossible?
(Answer: NO)

If I were to instead roll this money over to a ROTH IRA, and pay taxes on the money, is that money considered a ROTH "contribution" and therefore available to me to withdrawal without penalty? Or am I basically completely unable to draw on these funds without penalty?

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