Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: OrangeInvestor Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121599  
Subject: After tax 401k converting to Roth IRA Date: 5/15/2000 12:45 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I currently have a ROTH IRA which I have had for a few years.

Several years ago, I left a company where I had contributed AFTER TAX money to a "savings plan", which is pretty much the equivalent to a 401k plan.

When I left the company the investment in the savings plan was so underwater, I decided to leave it there in hopes of regaining my losses.

This strategy has not paid off in 5 years, and does not appear to be successful anytime soon.

The savings plan is currently made up of 40% Money I (employee) paid in, 17% Company matched funds, 43% investment gain.

What I would like to do is Roll this savings plan into my existing ROTH IRA account.
Again, the money I contributed to the savings plan was After-Tax money.

So the question is, can I roll this savings plan into my existing ROTH IRA, and if so, will this incure a taxable event???

FYI: I am about 37 years away from retirment and just want to build up the ROTH IRA rather than rolling the money into my 401K at my current employer, which is 1. Not better than my last company, and 2. Made up of before tax contributions.

Thanks
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement