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<blockquote data-quote="Jackburton" data-source="post: 4437112" data-attributes="member: 34538"><p>The question I have, can you do a Roth conversion with this. For example, with the penalty waived, will Prudential allow you to convert a pretax amount into the Roth portion of our account, and we can pay the taxes now without penalty. With the market being down, paying taxes on a smaller amount then allowing it to grow tax free from this point, you make out better.</p><p></p><p>I have about 40k in traditional from a long time ago, before switching to Roth. Wondering if they’ll allow me to move that amount over, incurring a taxable event. Technically it wouldn’t be withdrawing, but you could accomplish the same thing by withdrawing and placing it into an Roth IRA, only problem would be yearly limits on contributions, might need to spread it out over a few years between the wife and I.</p><p></p><p>I’ll call when I get a chance and ask</p></blockquote><p></p>
[QUOTE="Jackburton, post: 4437112, member: 34538"] The question I have, can you do a Roth conversion with this. For example, with the penalty waived, will Prudential allow you to convert a pretax amount into the Roth portion of our account, and we can pay the taxes now without penalty. With the market being down, paying taxes on a smaller amount then allowing it to grow tax free from this point, you make out better. I have about 40k in traditional from a long time ago, before switching to Roth. Wondering if they’ll allow me to move that amount over, incurring a taxable event. Technically it wouldn’t be withdrawing, but you could accomplish the same thing by withdrawing and placing it into an Roth IRA, only problem would be yearly limits on contributions, might need to spread it out over a few years between the wife and I. I’ll call when I get a chance and ask [/QUOTE]
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