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Ask The Expert: Converting to a Roth

Q:
Asked by James 1/3/13

Can I roll over all my money that’s in a traditional 401k to a Roth IRA?

Matthew Malone A:
Answered by Matthew Malone 1/4/13
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258 out of 258 people found this useful.

Yes, as long as you meet the eligibility guidelines for the tax year in which you want to make the conversion. Here are the guidelines for the 2012 and 2013 tax years. Remember that you’ll be subject to taxes on the conversion, so make sure you’ll have the funds to cover it before switching to a Roth. Rolling over to a traditional IRA has no immediate tax consequences.

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