OK for my Tax Pro Buddies here! In 2008 I can roll my 401K directly into a Roth and pay tax as required. The question I am looking for a response to is: Will I have to pay tax on the accumulated earnings attributed to after tax funds? I am not finding the info on Ed Slotts or Fairmark Boards. Has anyone here looked into this yet? The info below is what I have to work with. Paying Uncle Sam on contributions of $89,671.63 & the Company Match of $25,219, while not my favorite thing to do would set up a nice healthy Roth. I do know that per the IRS this can be split into TIRA & ROTH but bet the former employer will only want to cut funds check one way.
Thanks for the guidance you may have!
Source Source Balance Vested Balance
Before Tax Account $89,671.63 $89,671.63
After Tax Account $248,143.92 $248,143.92
XXXX Company Match Account $25,219.20 $25,219.20
Prior Co Contributions Account $11,076.33 $11,076.33
Total: $374,111.08 $374,111.08
P.S. Yes I know patience is a virtue and I can wait a few more months for guidance... BUT I DON'T WANT TO WAIT!!!!