Islandee writes:Do I interpret this correctly: In this process, you're saying that I was able to roll over both taxed and non-taxed funds from the 401(k) to a traditional IRA? I thought that I had to exclude the already taxed funds from the rollover. While NEXT year you will be able to transfer after-tax monies in a 401k to a traditional IRA, THIS year you may not do so. When you leave your job and transfer your 401k money you will get a check for the after-tax contributions because they cannot be transferred to a traditional IRA (or to a new employer's plan). Therefore, this year only pre-tax money may be transferred to the traditional IRA. If you later decide to transfer that money to a Roth IRA (the only way 401k money can get there), then the money will be taxed in the year the Roth conversion occurs.Regards..Pixy
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar<