No. of Recommendations: 0
I recently took my retirement in a cash balance and rolled it into a conventional IRA. If I had rolled it into a Roth IRA instead, would I have had to pay taxes on the
amount. If not,would there be any way to reverse this blunder? I understand that I would have to pay taxes on the amount if I simply converted my conventional
IRA to a Roth.

So far you are doing the right thing.

You can not roll money into a ROTH with out having the money in a regular IRA first. Now you can pay your tax and roll to a ROTH if you want.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.