Simple IRA rollover and Traditional IRA Roth conversion same year?
Can someone rollover their Simple IRA into a 401K (same employer, employer changed plans 1/1/24), and convert their Traditional IRA into a Roth IRA in the same calendar year?
Can someone rollover their Simple IRA into a 401K (same employer, employer changed plans 1/1/24), and convert their Traditional IRA into a Roth IRA in the same calendar year?
Permalink Submitted by Alan - IRA critic on Wed, 2024-05-08 15:08
Yes, as long as 2 years has passed since the date of the first SIMPLE IRA contribution and the employer 401k accepts IRA rollovers.