> Do you have the cash to pay the taxes on the conversion?
Roth 401(k) to Roth IRA has a conversion cost? I did not know.
>Is this a high income year? If so, what worst time to convert
It kind of is, yeah. New job came with a substantial raise and I have long term capital gains to factor for the sale of my house, but I have taxes being withheld at regular income rates to compensate, so that should cover the extra burden.
echisholm OP t1_jeh1bhw wrote
Reply to comment by Werewolfdad in Roll over or convert? by echisholm
> Do you have the cash to pay the taxes on the conversion?
Roth 401(k) to Roth IRA has a conversion cost? I did not know.
>Is this a high income year? If so, what worst time to convert
It kind of is, yeah. New job came with a substantial raise and I have long term capital gains to factor for the sale of my house, but I have taxes being withheld at regular income rates to compensate, so that should cover the extra burden.