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You are here: Home Categories Taxes 401k I will be converting my 401k money, approx. $6,000, from my ex employer to an IRA. Can/should I go Roth?

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Find more related questions to I will be converting my 401k money, approx. $6,000, from my ex employer to an IRA. Can/should I go Roth?

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Submitted 341 days ago...

Temuco143

New User (1)

I will be converting my 401k money, approx. $6,000, from my ex employer to an IRA. Can/should I go Roth?

Can I convert the 401k money from my EX employer into a Roth IRA? Should I do this or convert it to a normal IRA?

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Answer 1 / 1 - Submitted 340 days ago...

Trove882

Brain (2,222)

You can if your total income is within the guidelines. You would have to pay income tax on this money the year you put it into a Roth. However, when you take it out in retirement there would be no tax. I guess which is better would be your judgment. Most people like the Roth idea.

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