After Tax 401k to Roth
Can you take after Tax (Not Roth) contributions ( say 100k)and transfer to a Roth IRA that was established 10 years ago, then immediatley take it out as a 60 day rollover and put it back? and if you dont get it back within the 60 days, any penalties /taxation?
The roth previously had 50k with a 20 k basis.
Permalink Submitted by Alan - IRA critic on Tue, 2013-07-30 17:46
A tax free Roth rollover can be distributed and rolled over within 60 days with no tax consequence like any other rollover. If the funds are not rolled back, there is no tax and no penalty because the conversion was not taxable.