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Get your taxes done using TurboTax
1.A rollover IRA is a version of a traditional IRA. They have the same rules once established as far as RMD, conversion to ROTH, etc. The difference is the term rollover identifies that it came from an employer sponsored plan.
2. great!
3. great!
4. No, the rollover IRA is all pre-tax dollars so all of it would be taxable in a conversion to ROTH. The pro-rata rule applies when you have both taxed and non-taxed dollars in the same account.
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‎April 3, 2024
2:52 PM
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