<h1>What You Need to Know About Roth IRA Conversions</h1>
Tyler?
Yep.
Looks like you'll be retiring with $2 million in your 401(k)?
Yep.
Okay, so you owe us...
Nothing.
It's a 401(k). That's a tax-deferred account.
Uh, no. It's a Roth IRA.
Nice try, buddy. It says right here that that's a 401(k) from your old employer.
Yeah, we rolled that money over to a Roth IRA.
But you were making too much money to be eligible for a Roth IRA.
I was making too much money to contribute to a Roth IRA, not to convert to a Roth IRA.
Well, shoot.
So you would have owed us...
A lot.
And now you owe us...
Nothing.