Hi, I start a job a few months ago that offers a Vanguard 401k. They offer a Roth in-plan conversion option that must be triggered by Dec 31st by 2 pm or so in order to count towards this year's taxes (their words). I already converted my personal contributions to Roth (80% of the 401k), but since I already paid FICA taxes on these it won't be much of a tax burden.
Assuming it's beneficial for me tax-wise to do a Roth 401k conversion, will my employer's contributions be added to my AGI, from which I'll have to pay FICA + federal taxes on if I convert them?
Assuming:
- No state tax
- 55k AGI
- Not accounting for portfolio loss
I've searched on the TurboTax and bogleheads forums, but couldn't get a straight-forward answer.
Submitted December 31, 2018 at 01:48AM by elchurnerista http://bit.ly/2Su8yiK
