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1

The money in the Roth conversion is simply treated as ordinary income. Thus, just add it to your expected "other" incomes to get your "unadjusted" income. After all relevant adjustments, you'll know what tax bracket you'll be in. Thus, I'd use one of the tax estimator tools to see what my AGI would be without a Roth conversion, and then ...


7

There are many things that an employer can customize about its 401(k) plan, and the feature to allow participants to rollover funds out of the plan while still employed is one of those things. You’ll need to ask your company’s HR department to find out if this is allowed under your 401(k) plan’s rules.


1

So I am considering rolling over my 401K into a traditional IRA account. We will assume that you can do this. Not all employers allow current employees to do this. I currently have a 401K account from my employer. Not all value in the 401(k) is the same. It depends on the source of those funds. will I get taxed on the money when I roll it over from my ...


3

If it's your current employer (which seems to be, given that you wrote, "currently ... my employer), you can't. It's "stuck" in that 401(k) until you don't work there anymore. (Some plans allow you to transfer -- not borrow! -- money out while still employed, but that's rare.) The only and partial solution is to reduce your 401(k) contribs, ...


0

When I requested a distribution the 401k Plan administration says I cannot withdraw while employed overseas by foreign branch of the parent company. They typically allow after separation from the company or at age of 59. I understand this rule applies to US citizens or residents temporarily working abroad. I used to worked for the a company that grew by ...


3

If you roll over the after-tax 401(k) balance, contributions and earnings, entirely to a Roth IRA, then you'll pay income tax on the earnings on line 5b (Taxable Amount of Pensions and Annuities) of your 1040. Here's the entire explanation, more context than you asked for: Pretax: traditional contributions and earnings, earnings on after-tax contributions ...


-2

You will get a 1099-R from the 401k provider, but no tax is due. The data goes in the same form as all other 1099-Rs.


2

Employee traditional and Roth contributions are capped at 19.5k across all plans (assuming you're under 50 years old) Each plan's total employee (traditional, Roth, and after-tax) and employer contributions are capped at 58k Since you maxed out your employee contribution at your employer plan, you met the 19.5k cap already and may not make any more employee ...


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