I have a 401K and i am probably four year away from retirement. does it make sense to move my 401k to a 401k Roth if i can afford having paying for the tax now?
You'll need to sign in or create an account to connect with an expert.
Hi ro-solano, thank you for the question!
There are definitely considerations to convert from traditional to a Roth. Paying the tax now while you have the funds is a major consideration. Unfortunately, this is a financial planning question rather than a tax question.
Here is a great resource as you consider the conversion, https://turbotax.intuit.com/tax-tips/investments-and-taxes/now-everyone-can-convert-to-a-roth/L4NEqO....
I hope this information is helpful!
Connie
Hi There:
If you think that you will be in a higher tax bracket when you retire. Then it makes sense to pay taxes now at the lower bracket. However, most people enter a lower tax bracket upon retirement, but you might be the exception to the rule.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
vze56v6x
Level 2
jenoliver8
New Member
lulukern123
Level 2
Ry03
Level 1
TERICKSON79
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.