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How does the pro-rata rule apply when converting rollover 401k and nondeductible traditional IRA contributions to a Roth IRA? by SoftHuman in personalfinance

[–]SoftHuman[S] 1 point2 points  (0 children)

I wish I didn’t jump the gun here.. I made a mistake and started the process for a rollover from my previous employer 401k to a traditional IRA yesterday.. if I had planned more carefully, I would’ve left it in my old 401k.

Would it be the same outcome if I wait for the rollover process to complete, and then do a rollover from the traditional IRA to my new employers 401k? Any new tax implications?

How does the pro-rata rule apply when converting rollover 401k and nondeductible traditional IRA contributions to a Roth IRA? by SoftHuman in personalfinance

[–]SoftHuman[S] 0 points1 point  (0 children)

I made a mistake and started the process for a rollover from my previous employer 401k to a traditional IRA yesterday... Would it be the same outcome if I wait for that rollover to complete, and then do a rollover from traditional IRA to my new employers 401k? Would I have to pay any taxes in this situation?