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Where does the Goldman Sachs money go??
On 26/04/2010 12:57 PM, nom=de=plume wrote:
wrote in message ... 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. But if I remeber correctly, ROTH is only tax free on principle and for gains you have to waith until 59 1/2 or something. -- Socialism and statism are great as long as someone else pays for it. |
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