Individual 401K to Roth IRA
A client has an individual 401K account and a Roth IRA account. Can they move increments of amounts or shares from their Indiv. 401k to a Roth account as a conversion? I looked on Publication 590 rollover chart and believe this can be done but want to confirm.
thanks
Permalink Submitted by Alan - IRA critic on Mon, 2014-09-22 19:52
Yes, shares can be transferred in kind from one retirement account to another. In this case client must be eligible to take distributions from the solo K if still working. Client could also recharacterize the Roth rollover if desired, but the recharacterization will have to go to a TIRA, not back to the plan.