The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  401k to Roth??? Date:  6/13/2000  12:15 AM
Author:  TJScanlon Number:  22513 of 90498

I have several questions I can't seem to get a handle on. Looking for some help. First I will give the details. I have a traditional IRA with about $7k in it and I have a 401k from a previous employer with about $12k. In addition I have a 401k with my current employer. I am 35 and married filed jointly with AGI of approx $90k joint, will likely go over $100k in 2001, possibly in 2000 depending on commission. OK, now that I have that off my chest....

I want to roll the my old employers 401k into a Roth IRA (I think this may be best but am open to counter viewpoints). I understand that it must first go into a traditional or conduit IRA.

Can I use my existing IRA or does that create problems with the money already in there?

What will be the tax implications of transfering the 12k from older 401k into a Roth IRA? ie. approx how much will I need to pay?

What happens if I convert it to a Roth and our AGI goes over $100k in 2000? (from what I understood, the AGI to open a Roth was under $100k?)

Thanks for reading and offering your opinions to a fool who is trying.

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us