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re: Should I rollover an old 401k?
Posted on 8/20/14 at 9:37 am to Htown Tiger
Posted on 8/20/14 at 9:37 am to Htown Tiger
There shouldn't be any tax implications if I put it in a traditional IRA, right?
Posted on 8/20/14 at 9:41 am to PetreauxCat
No, but make sure you fill out all the paperwork correctly.
You should not receive a check made out to you. The check should be to the trustee of your Ira acct.
You should not receive a check made out to you. The check should be to the trustee of your Ira acct.
Posted on 8/20/14 at 11:09 am to PetreauxCat
quote:
There shouldn't be any tax implications if I put it in a traditional IRA, right?
Correct. You can do a straight rollover.
Posted on 8/20/14 at 6:25 pm to PetreauxCat
This post was edited on 10/6/14 at 5:51 pm
Posted on 8/21/14 at 9:59 am to PetreauxCat
quote:
There shouldn't be any tax implications if I put it in a traditional IRA, right?
There wont be any tax implications on the rollover itself, but if you plan to do a backdoor Roth in the future, there will be some implications down the line.
All depends on whether you still want to contribute to your Roth since you are over the limit now. If you don't, know worries- go forth and convert. If you do, I'd look into the implications of future backdoor Roth contributions while you have another tax deferred IRA account.
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