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Hello,
I have a Roth IRA. I was wondering if I can automatically roll a ROTH 401k into a Roth IRA or I would have to do that manually? Also, I would be taxed before the conversion...?
@lemon_taiyaki wrote:Hello,
I have a Roth IRA. I was wondering if I can automatically roll a ROTH 401k into a Roth IRA or I would have to do that manually? Also, I would be taxed before the conversion...?
Since nobody has replied...
Generally a Roth to Roth rollover isn't considered a conversion, so on the surface it would not be taxed assuming you did it in the required amount of time.
However, you should consult a tax professional for a truely accurate answer. I am not a tax professional.
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Trustee to trustee? Yes.
Why? I mean there are reasons, just want to know why.
To whom? Have you thought about asking the people who would be the trustee the Roth IRA?