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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16544
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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I have relatively new job with a 401k I am 54 yrs & plan to

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I have relatively new job with a 401k I am 54 yrs & plan to work until around 70 Previously had an IRA.
Can I transfer all of the case to my IRA
If yes how do I pay the taxes?

Megan C :

Thanks for your question and thanks for using JustAnswer.com

Megan C :

How are you today?

Megan C :

Are you wanting to transfer your 401(k) to your IRA or vice versa?

Megan C :

If you do, all you do is a rollover and if that's the case there are no taxes to pay whatsoever.

Customer:

401 to IRA whey do i pay the the taxes the 401 k ?

Customer:

Thanks for your answer

Megan C :

You don't have to pay any taxes until you take money out of the plan

Customer:

Ok great .

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