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I have a regular 401k that I want to roll over to my new Roth IRA. Is there any thing I should know before I do this? tax wise!

 
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KenH1
New Member

I have a regular 401k that I want to roll over to my new Roth IRA. Is there any thing I should know before I do this? tax wise!

Yes.  The entire rollover will be taxable.  There will not be an early withdrawal penalty, however.

Once the money is in a Roth and taxes paid, the account will grow tax-free if withdrawn after age 59.5.

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KenH1
New Member

I have a regular 401k that I want to roll over to my new Roth IRA. Is there any thing I should know before I do this? tax wise!

Yes.  The entire rollover will be taxable.  There will not be an early withdrawal penalty, however.

Once the money is in a Roth and taxes paid, the account will grow tax-free if withdrawn after age 59.5.

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