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Updated over 5 years ago on . Most recent reply

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26
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6
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Nagesh Pulipati
  • Real Estate Broker
  • Frisco, TX
6
Votes |
26
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After 401K Trasfer to Solo to ROTH IRA?

Nagesh Pulipati
  • Real Estate Broker
  • Frisco, TX
Posted

Hi Recently I have transferred After Tax 401K to Solo 401K. This is from Fidelity. I checked in Fidelity transfer detials, it says clearly Total Non-Taxable Amount for the line item. My question is, can I convert After Tax 401K  to ROTH IRA in my Solo 401K , if so what is the procedure? 

Most Popular Reply

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1,409
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Daniel Dietz
Pro Member
  • Rental Property Investor
  • Reedsburg, WI
857
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1,409
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Daniel Dietz
Pro Member
  • Rental Property Investor
  • Reedsburg, WI
Replied

@Justin Windham with the method you mention above of having 'two different accounts within the SOLO401K, I assume that ideally you mean two separate checking accounts both 'owned' by the same SOLO401K? 

If so, can those two checking accounts both be partial owners of the same asset, say a rental house? Meaning one puts in 50K and the other 50K on a rental house? My understanding is that my SDIRAs, which one is Traditional and one a ROTH, can NOT do that, at least not easily.

If it is possible to have those two different accounts 'co-own' property, does it make a difference if it is bought that way from the original purchase, or can we convert part (or all) of it be converted over to a ROTH as I go?

Thanks, Dan Dietz

  • Daniel Dietz
  • [email protected]
  • 608-524-4899
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