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transfering profit sharing from former employer to Roth IRA
Posted on 6/15/16 at 5:22 pm
Posted on 6/15/16 at 5:22 pm
So I have a chunk of money that I have to move from my former employer. I want to transfer it over to my Roth. Will I have to pay taxes on the transfer?
1
Posted on 6/15/16 at 6:57 pm to lsaltee
Profit sharing is generally pre tax so If you transfer directly to a Roth then yes the balance would be considered taxable but not penalized
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