Hi all,
Struggling to find a specific answer despite this general topic being asked frequently. My question is specific to taxes and other implications I may not be thinking of.
I have an old employer 401k that is a few hundred grand, along with two Roth IRAs that have much less. Given RH’s current transfer incentive I’d like to roll them over (if it makes sense).
From my understanding, the 401k will become a traditional IRA. Are the current positions transferred, or is everything sold and I need to taxes on the gains?
For the Roth IRAs, anything I need to consider? Note these were funded via backdoor if that makes a difference.
I read on a post that IRAs are subject to more tax at withdraw (income vs capital gains). This made me pause and wonder if there is more I’m not considering