@brunele86 wrote:
Left employer in 2020. At that time I rolled my Traditional 401K amount into a Traditional IRA and my Roth 401K amount into a Existing Roth IRA. I have had the Existing Roth IRA for more than 5 years.
Is the full amount that I rolled from the Roth 401K considered a contribution to the Existing Roth IRA or only the amount that I contributed to the Roth 401K considered a contribution. Then employer match and earnings from the Designated Roth 401K now considered earnings in the existing Roth IRA. I stumbled upon this description and just looking for clarification.
A rollover is NOT a new contribution. If you have after-tax contributions to the designated Roth then that becomes part of your existing Roth IRA's "basis". That amount should be shown in box 5 on the 1099-R for the rollover.
If you have met the 5 year rule for ANY Roth IRA account, then that applies to all Roth IRA accounts. Rolllovers have no effect.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
