I apologize for the simplicity of this question - it's the first time I've done this and just want a quick sanity check.
I have a 401a from a old job. I have separated from that employer. For simplicity, I'd like to consolidate retirement accounts. Can I roll this into my Vanguard IRA, then do a Roth conversion (to avoid having anything in my IRA so I can also - hopefully - do backdoor Roth in 2022)? I understand I'd owe tax on this conversion, but it would be at the 24% marginal rate, I anticipate being in the 32 or 35% marginal bracket in the future, and my other pre-tax accounts are ~2x the value of my Roth accounts. Seems like a logical time to do the conversion, but just want to make sure I haven't missed any details...
I have a 401a from a old job. I have separated from that employer. For simplicity, I'd like to consolidate retirement accounts. Can I roll this into my Vanguard IRA, then do a Roth conversion (to avoid having anything in my IRA so I can also - hopefully - do backdoor Roth in 2022)? I understand I'd owe tax on this conversion, but it would be at the 24% marginal rate, I anticipate being in the 32 or 35% marginal bracket in the future, and my other pre-tax accounts are ~2x the value of my Roth accounts. Seems like a logical time to do the conversion, but just want to make sure I haven't missed any details...
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