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Bill, Enrolled Agent
Category: Tax
Satisfied Customers: 3153
Experience:  EA, CEBS - 35 years experience providing financial advice
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My wife passed away a few months ago before she retired (age

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My wife passed away a few months ago before she retired (age 58). She worked for a major corporation and had a 401k and a retirement annuity. I have already rolled the 401k to my 401k but I don't know if I can roll the annuity to my 401k without paying income taxes. I guess if I have to pay income taxes i will just take it as cash and put it in a ROTH. The retirement annuity is $70,000. Can I roll this to my 401k and only py the income taxes when I withdraw it from the 401k. I am 61 so I don't have a penalty for withdrawl any more.
Submitted: 4 years ago.
Category: Tax
Expert:  Bill replied 4 years ago.
If the retirement annuity was funded by contributions from a retirement plan (pension, 401(k), 403(b), profit sharing plan, etc) and you have correspondence from her employer stating that it can be rolled over to another type of retirement plan, then you can roll it to your 401(k) (assuming your 401(k) accepts rollovers from any type of retirement plan). If the distribution is directly rolled from her plan to your 401(k) or to a traditional IRA, then it will not be a taxable event.
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