I have a large 401k balance that I kept at my final employer for the last few years (since retirement). About 15% of that is after tax contributions to that 401k. All of these after tax contributions are in a traditional 401k (non-roth).
At this point, I want to roll that over into an IRA to give me better investment options.
I'm confused about whether the pro-rata rule applies here. What are my options regarding the after tax portion of these 401k contributions? What are the tax implications?
Is there any way to withdraw these after tax contributions without penalty? I'm 58.
At this point, I want to roll that over into an IRA to give me better investment options.
I'm confused about whether the pro-rata rule applies here. What are my options regarding the after tax portion of these 401k contributions? What are the tax implications?
Is there any way to withdraw these after tax contributions without penalty? I'm 58.
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