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Get your taxes done using TurboTax
A designated Roth account is a separate account in a 401(k), or governmental 403(b) plan to which designated Roth contributions are made. Designated Roth contributions aren't excluded from gross income and are taxed.
A Roth conversion happens when you move assets from a traditional, SEP or SIMPLE IRA, 401(k), or 457(b) and put them in a Roth IRA. When you convert, you'll include the converted amount as ordinary income.
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‎September 26, 2024
5:05 PM