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re: Should I rollover an old 401k?

Posted on 8/20/14 at 9:37 am to
Posted by PetreauxCat
TX
Member since May 2009
858 posts
Posted on 8/20/14 at 9:37 am to
There shouldn't be any tax implications if I put it in a traditional IRA, right?
Posted by eng08
Member since Jan 2013
5997 posts
Posted on 8/20/14 at 9:41 am to
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.
Posted by GoCrazyAuburn
Member since Feb 2010
34945 posts
Posted on 8/20/14 at 11:09 am to
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 by smoke4life
Houston
Member since Feb 2006
686 posts
Posted on 8/20/14 at 6:25 pm to

This post was edited on 10/6/14 at 5:51 pm
Posted by Htown Tiger
Houston
Member since Sep 2005
2312 posts
Posted on 8/21/14 at 9:59 am to
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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