I currently work two part time jobs. One as a W2 where I max out my 403(b)18k and the other job is 1099 work. I have an old job with a 403(b) with 28k sitting in it. I was told by Fidelity (the plans holder) that I have the option of rolling this over and that I'm paying fees right now so it's probably better for me to roll it over.
What should I do with that? Now that I have some 1099 income, I was hoping I can roll over part into a backdoor Roth IRA and the balance into a solo 401k) even while maxing my current w2 employee 403(b) out to the maximum 18,000? All with the understanding I'll have to pay back taxes for the $5,500 backdoor Roth IRA?
Does this sound reasonable for me to do? My guess is I'd have to just make sure the proper tax documents are filed by my CPA during tax time?
What did you do (or do you plan on doing) with one of your old 401(k) plans? Just keeping it there I suppose is another option?
What should I do with that? Now that I have some 1099 income, I was hoping I can roll over part into a backdoor Roth IRA and the balance into a solo 401k) even while maxing my current w2 employee 403(b) out to the maximum 18,000? All with the understanding I'll have to pay back taxes for the $5,500 backdoor Roth IRA?
Does this sound reasonable for me to do? My guess is I'd have to just make sure the proper tax documents are filed by my CPA during tax time?
What did you do (or do you plan on doing) with one of your old 401(k) plans? Just keeping it there I suppose is another option?
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