Lemurosity wrote:

- quote -

Slim to none since the 60 day window has passed.

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See #1 as you must first go through an IRA.

- quote -

The money you received is a return of capital. You can do what
ever you want with the funds. It is not taxable income.


<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Not sure what to do with this...hoping the group can help!

I'm in my early 30s and I just rolled over my 401k from
Company A to Company B. About 50K was pre-tax and 8K was
after-tax. Company A cut 2 checks representing the money for
each type. When I tried to roll over the amounts to Company
B, they would not allow me to roll over the after tax amount
(not even going to get into what happened here...).

Anyway, I'm now stuck with 8K and trying to determine my
options. The money was cut at the end of November, so I'm in
theory out of the 60-day window, although I would fight
tooth and nail that I tried to make a faithful execution of
the rollover. Anyway, here's my questions now:

(1) What are my options for moving this money into a
standard IRA?
(2) How about a Roth IRA?
(3) I'm currently looking at buying my first home, and 8K
would certainly help towards the down payment--is this a
good strategy? How would I determine what taxes/penalties
I would have to pay if I kept the cash disbursement?

Thanks loads!

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >