Comments on: Convert from Rollover to Roth IRA? How much taxes do I have to pay? http://www.iraroth.net/2009/12/convert-from-rollover-to-roth-ira-how-much-taxes-do-i-have-to-pay/ IRA Questions and Answers Thu, 20 Oct 2011 14:36:38 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Doctor Deth http://www.iraroth.net/2009/12/convert-from-rollover-to-roth-ira-how-much-taxes-do-i-have-to-pay/comment-page-1/#comment-132 Doctor Deth Wed, 09 Dec 2009 07:44:49 +0000 http://www.iraroth.net/2009/12/convert-from-rollover-to-roth-ira-how-much-taxes-do-i-have-to-pay/#comment-132 1- if you still work for the same company you have that 401k with - you can't roll it anywhere. 2-why on earth would you want to voluntarily lose 25-30% (tax and early withdrawal penalty) by converting it from pre-tax to post tax 3-if you HAVE left the company -just roll it over to a regular IRA - you won't lose any of the money 1- if you still work for the same company you have that 401k with – you can’t roll it anywhere.
2-why on earth would you want to voluntarily lose 25-30% (tax and early withdrawal penalty) by converting it from pre-tax to post tax
3-if you HAVE left the company -just roll it over to a regular IRA – you won’t lose any of the money

]]> By: v b http://www.iraroth.net/2009/12/convert-from-rollover-to-roth-ira-how-much-taxes-do-i-have-to-pay/comment-page-1/#comment-131 v b Wed, 09 Dec 2009 07:22:39 +0000 http://www.iraroth.net/2009/12/convert-from-rollover-to-roth-ira-how-much-taxes-do-i-have-to-pay/#comment-131 You are safely in the 15% tax bracket, so if you roll $2K to the Roth, you would owe $300. It's best to pay this with after-tax dollars. (You leave more money in the account, it's not a distribution that triggers a penalty, etc.) By the way, if your goal is to have savings, put that $600 for 2008 directly into the roth. You are safely in the 15% tax bracket, so if you roll $2K to the Roth, you would owe $300. It’s best to pay this with after-tax dollars. (You leave more money in the account, it’s not a distribution that triggers a penalty, etc.) By the way, if your goal is to have savings, put that $600 for 2008 directly into the roth.

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