I rolled over my 401k fund from previous employer into my current employer. I’m under 59.5 years old. Can I convert the rolled over fund to Roth without penalty?
You can without penalty if your plan allows conversions and if you pay the taxes for conversion out of after tax dollars. You don’t want to withhold for taxes or you will have a 10% penalty with the funds withdrawn for taxes
I rolled over my 401k fund from previous employer into my current employer. I’m under 59.5 years old. Can I convert the rolled over fund to Roth without penalty?
You can without penalty if your plan allows conversions and if you pay the taxes for conversion out of after tax dollars. You don’t want to withhold for taxes or you will have a 10% penalty with the funds withdrawn for taxes