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Get your taxes done using TurboTax
A much more significant impact from this rule comes to those who decide to rollover a 401(k) or other type of company plan. Only the total value of IRA accounts is used in the pro-rata rule. 401(k) plan values, 403(b) plans and profit sharing plans are not included in the pro-rata formula. The value of one of these types of accounts would be included if you decided to rollover the plan assets to an IRA during the year.
March 15, 2021
9:45 PM