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Retirement tax questions
Was your 401k in a ROTH 401K account? I don't know if you can rollover a regular 401k directly to a ROTH IRA. ROTH means after tax and 401k contributions are usually pre-tax. Look on the back on your 1099R it should have instructions and the explanations for all the Codes.
A rollover from a regular 401K account to a ROTH IRA is actually a conversion and a fully taxable event. You probably should have rolled it over to a Traditional IRA account to preserve the tax deferred status. Now it is 100% taxable. I'll page someone who knows more about that. @dmertz
A rollover from a regular 401K account to a ROTH IRA is actually a conversion and a fully taxable event. You probably should have rolled it over to a Traditional IRA account to preserve the tax deferred status. Now it is 100% taxable. I'll page someone who knows more about that. @dmertz
May 31, 2019
5:42 PM