If the gains are significant, it should also be possible to convert only the total basis of the Traditional IRA to a Roth IRA, and later the same year, rollover the remaining balance into the 401k plan. This should avoid any immediate taxation on the gains.
Form 8606 has details on how taxes are calculated on conversions, as well as how the basis is tracked each year.
Form 8606 has details on how taxes are calculated on conversions, as well as how the basis is tracked each year.
Statistics: Posted by Lyrrad — Sun May 19, 2024 11:58 pm — Replies 3 — Views 198