Solo 401k Question Answered – How can I convert my Solo 401k to a Roth Solo 401k?
Please check out this good question from our Daily Live Zoom call. Subscribe to our YouTube Channel to get notifications of our Daily FAQs.
Solo 401k FAQ: Can I convert my solo 401k to a Roth Solo 401k assuming that I pay the taxes?
Great question as the ability to have Roth Solo 401k funds is one of the top features of our Solo 401k.
Our plan certainly allows the Solo 401k owner to convert as little or as much as they wish from their pre-tax Solo 401k sub-account to their Roth Solo 401k sub-account.
Of course, this will constitute a taxable and reportable event and we handle the required 1099-R reporting as part of our services for no additional charge.
Please see more here: https://www.mysolo401k.net/items-to-consider-if-you-plan-to-process-a-self-directed-roth-solo-401k-pretax-in-plan-conversion-in-2022/