The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: IRA conversion questions||Date: 2/25/2013 3:24 AM|
|Author: clairence||Number: 117888 of 125435|
I've got what are probably simple questions but I'm not finding them readily in one place online.
I am in my mid-40s and would like to take the money from my SEP and put it in my ROTH, which I've had for about seven years.
I realize I pay taxes on the SEP distribution.
Is that my current rate (15%) ?
Are there additional taxes or penalties involved?
Will the rollover funds need to sit for five years before I have access to them without penalty or tax?
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