"Canuck57" wrote in message
...
On 26/04/2010 7:22 PM, Bill McKee wrote:
wrote in message
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On 26/04/2010 3:22 PM, wrote:
On Mon, 26 Apr 2010 11:57:25 -0700, "nom=de=plume"
wrote:

wrote in message
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On Sun, 25 Apr 2010 21:25:42 -0400, Wayne.B
wrote:

On Sun, 25 Apr 2010 21:16:15 -0400, wrote:

My real problem is, this will put
us past the evil $250k mark if I try to roll it all at once and the
IRS will come after me.

I'm probably missing something here but I believe you should be able
to roll over any amount of 401 money into an IRA without any tax
liability.

I would want it out and pay the taxes now before the rates really go
up.
Maybe a Roth but I am thinking I will just run t myself.
One of these days somebody is going to decide the deficit is
important
and that tax deferred money is just way too attractive.


There are no tax consequences... you have 60 days to roll it to an
IRA.
Withdrawing money from an IRA incurs a tax liability at whatever rate
you're
at. A ROTH is taxed initially, then tax free when you take out the
money.

I am not really interested in a regular IRA. I want to pay my taxes
now and own the money. The Roth really looks the most attractive if I
keep it in a fund..

That might not be a good idea unless you are over 59 1/2 or something.
There are penalties for just hauling it out before that.
--


No penalties if rolling in to a Roth.

Interesting. Take the tax hit and roll it into a ROTH...hm...need to
think about that.



http://www.irs.gov/publications/p590...link1000230568
Do a search on rollovers and roth.