Hello, this past year I am finally on target to contribute over the max of $19,500 to my workplace's Roth 401k Plan. Overall I will contribute about 20500 this year, and I have found out that the extra 1000 will go to an "after tax" plan. I spoke with HR/Retirement and I have the ability to roll the extra 1000 into my roth, but I will just have to pay taxes on any potential earnings.
My question is:
- Can I convert to roth 401 as many times as I want throughout the year? Say next year I reach the 19,500 limit in September. Should I convert to Roth for the rest of my contributions as they go in? Or should I wait until the end of each fiscal year, and convert every January 1st?
Thanks everyone
Submitted December 02, 2020 at 08:11PM by Charming_Promotion60 https://ift.tt/3mCQxxU
