<< I am quitting my job this month. I plan to roll my 401K (approx $30,000) over to IRA. >>Good planning. You should roll it into a new account, not mixing it with a contributory account.<< After this transaction is done, can I roll this amount into a Roth IRA account? I know that I might have to pay taxes up front (for the $30,000). >>Yes. Once it's in a traditional IRA, you can do anything with it you want to. As long as you leave it in a separate account, you have more options. Read up on "conduit" IRAs in the FAQ.<< I also have a personal IRA already (worth about $15,000) -- would it be a good idea to leave this account alone or to roll it over to Roth IRA as well? >>The additional 401(k) money doesn't really affect this decision. I believe "convert/not convert?" is also covered in the FAQ.Phil MartiTax Preparer
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