401 rollover
Can you take distribution from 401K in the amount of pre-tax dollare contributed without tax consequence when you do a IRA rollover?
Can you take distribution from 401K in the amount of pre-tax dollare contributed without tax consequence when you do a IRA rollover?
Permalink Submitted by Alan - IRA critic on Fri, 2021-04-09 15:22
If you roll pre tax 401k funds into an IRA, either by 60 day or direct rollover, there will be no taxable income as the rollover will be reported on your 1040. However, if the rollover is deposited into a Roth IRA, taxable income will result.