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#3
11-06-2007, 12:41 AM
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 Re: 401k rolled into a Roth IRA or traditional ira? <BreadWithSpam[at]fractious.net> wrote in message news:yob4pg0nvz2.fsf[at]panix2.panix.com... - quote - > williepoo <joedopebucket[at]yahoo.com> writes:
True only for another 57 days. Direct rollovers from traditional defined> You cannot roll a (non-Roth, regular) 401k into a Roth IRA > directly at all. contribution plans to Roth IRAs are possible 1/1/2008 (assuming usual conversion requirements are met). http://www.complianceheadquarters.co...3289_3289.html Mark Freeland BnetOnewsX[at]sbcglobal.net |
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#2
11-05-2007, 10:49 PM
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| Re: 401k rolled into a Roth IRA or traditional ira? On Nov 5, 3:58 pm, williepoo <joedopebuc...[at]yahoo.com> wrote: - quote - > I will soon have to make a decision on my 401k plan.My company was
Does the private firm offer its own 401k and do you plan to continue> sold to a private firm and I need to roll my 401k into a IRA or even > another 401k.My question is this.....are there any restrictions on the > maximum amount I can roll into a Roth IRA? working for them? Your statement "I need to roll my 401k into a IRA or even another 401k" suggests this is the case (even if so, that may still not be the best option). |
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#1
11-05-2007, 10:20 PM
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| Re: 401k rolled into a Roth IRA or traditional ira? williepoo wrote: - quote - > I will soon have to make a decision on my 401k plan.My company was
I'd answer you with credit to http://www.fairmark.com/rothira/eligible.htm> sold to a private firm and I need to roll my 401k into a IRA or even > another 401k.My question is this.....are there any restrictions on the > maximum amount I can roll into a Roth IRA? In 2007, one may not roll a 401(k) into a Roth IRA. It must first make a stop, however brief, in a regular IRA. This changes in 2008, when a direct rollover is permitted. Until, and including 2009, you can't convert a traditional IRA to a Roth IRA in a year when your modified adjusted gross income is greater than $100,000. In 2010, that changes as well. I suggest looking at the tax bracket you are in, and converting to a Roth over multiple years to minimize the tax hit. Whatever bracket you are in, you may want to convert enough to just stay in that bracket, but not go over. Just a thought. JOE |
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11-05-2007, 10:20 PM
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| Re: 401k rolled into a Roth IRA or traditional ira? williepoo <joedopebucket[at]yahoo.com> writes: - quote - > I will soon have to make a decision on my 401k plan.My company was
You cannot roll a (non-Roth, regular) 401k into a Roth IRA> sold to a private firm and I need to roll my 401k into a IRA or even > another 401k.My question is this.....are there any restrictions on the > maximum amount I can roll into a Roth IRA? directly at all. You may roll a regular 401k, no matter how big, into a *traditional* IRA, though. After that, you may be able to do a traditional-> Roth conversion, but to do so, there are (a) income limits (currently $100k) and (b) you are prepared to pay the taxes. -- Plain Bread alone for e-mail, thanks. The rest gets trashed. No HTML in E-Mail! -- http://www.expita.com/nomime.html Are you posting responses that are easy for others to follow? http://www.greenend.org.uk/rjk/2000/06/14/quoting |
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#-1
11-05-2007, 08:58 PM
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| 401k rolled into a Roth IRA or traditional ira? I will soon have to make a decision on my 401k plan.My company was sold to a private firm and I need to roll my 401k into a IRA or even another 401k.My question is this.....are there any restrictions on the maximum amount I can roll into a Roth IRA? |
| Tags |
| 401k, ira, rolled, roth, traditional |
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