Hello all experts and happy new year.
After an intra-company move to a different business entity (so same 401k plan) I ended up with about 10k worth of excess 401k after-tax contributions. Regular 401k was fine and stopped at the right limit.
In December, I took all my 401k after-tax contributions and converted them to a roth-IRA, as I usually do.
End of the year company saw the error, tried to pull back from 401k after-tax but it was already moved.
So now they say Roth-IRA company will have to update my 1099 or send me two of those or something like that. I'm asking clarifying questions but in the meantime, I'd like to see what experts here think.
How do I resolve this?
Can I actually draw 10k out of Roth under some non-penalty non-taxable situation? And can this be directly from the roth account? or do I need to have them move 10k back to 401k after-tax and draw from there?
Or, do I leave it there (in Roth), pay some tax penalty(how much?) and contribute less next year?
Or anything else?
Lastly, will Turbo-tax premium online be able to handle this? I've been using this for the past 10+ years and I'd prefer not to switch to agent just for that if I don't have to.
Thank you and appreciate any help as I'm trying to detangle this.
