I am doing my dad's taxes. He is 76 and will retire in May 2022. His preference is to postpone first RMD until 2023. He has 401K Plan from his employer. He wants to rollover some of the contents of his 401K as follows:
1. He has money in 401K Roth which he wants to rollover all of it, both basis and earnings, to his Roth IRA outside of his employers 401K plan. Can he do so without triggering requirement for RMD this year?
2. He has made post tax contributions to his 401K that is not in the Roth 401K. He wants to now rollover the post tax contribution amount (the basis) to his Roth IRA. He wants to rollover the earnings of the after tax contribution to his "street" IRA. Will he be able to make these two rollovers without triggering RMD requirement for 2022?
Thank youl
