Thanks to you guys I started moving after tax 401k money to a Roth last year!
Megacorp changed our 401 k from Fidelity to ML recently and after several calls I reached someone who sounded like they knew what I was talking about,when I explained I wanted to open a Roth.he claimed I could open a Tira to roll the earnings into with the principal going into a new Roth?? I had assumed I'd just get a 1099r and the $100 ( or whatever) earnings would be taxable. I explained I make too much for a IRA, he claimed it didn't matter...this was legal per Mega plan rules.
I don't want to get cross threaded with the IRS over $100
I assume I can't roll the after tax from my 401 now held at ML to Fido where my year old Roth account is, I also have a old Roth at Vanguard
I don't really care for ML
As a side note our company which was a mom and Pop for 40 years ,recently was acquired twice in a row.....now we are part of Megacorp , oh my gosh
How can people work for such brain rot factories for 30 years! This place is a walking " soup sandwich " now that they are " fixing " us. I'm glad I'm close to the finish. End of sniveling
Any help would be appreciated .
Megacorp changed our 401 k from Fidelity to ML recently and after several calls I reached someone who sounded like they knew what I was talking about,when I explained I wanted to open a Roth.he claimed I could open a Tira to roll the earnings into with the principal going into a new Roth?? I had assumed I'd just get a 1099r and the $100 ( or whatever) earnings would be taxable. I explained I make too much for a IRA, he claimed it didn't matter...this was legal per Mega plan rules.
I don't want to get cross threaded with the IRS over $100
I assume I can't roll the after tax from my 401 now held at ML to Fido where my year old Roth account is, I also have a old Roth at Vanguard
I don't really care for ML
As a side note our company which was a mom and Pop for 40 years ,recently was acquired twice in a row.....now we are part of Megacorp , oh my gosh
How can people work for such brain rot factories for 30 years! This place is a walking " soup sandwich " now that they are " fixing " us. I'm glad I'm close to the finish. End of sniveling
Any help would be appreciated .