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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75797  
Subject: Re: 401(k) to IRA Date: 5/6/1999 1:11 PM
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Greetings, Heater013, and welcome. You asked:

<<I currently have a 401(k) and a Roth IRA. When I leave my current job and rollover my 401(k), can I eventually convert that rollover traditional IRA to my existing Roth or will it have to be into a seperate Roth, in which case I would then have 2 Roth IRA's?>>

Once the 401k money is in the traditional IRA, you may transfer it to your existing Roth IRA. There's no need to have a separate Roth for that purpose. Be aware, though, that the transfer does have income tax impacts, so you may have to send in an estimated withholding payment to avoid an underwithholding penalty when you finally pay your taxes for the year.

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