Tax Law (Questions About Taxes)/IRA rollovers

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Question
I was enrolled in a traditional 401(k) plan at my previous employer. However, my contributions were post-tax. Now that I've left that employment, I want to move those funds to my Roth IRA. Am I correct to assume this will not create a taxable event since I've already paid taxes on those monies?

Also, I had another retirement plan with the same company. They referred to it as the "wealth builder." Anyway, it was an employer contribution retirement account. I never put a dime in it, but the money was contributed as a percentage of my salary. How exactly is that treated if I want to roll that money over to a Roth IRA? Will I owe taxes on that money?

Please advise.

Answer
your 401k was not post tax. it is pre tax dollars (yes, a roth 401k was avaialble recently, but if you worked there very long it is unlikely that it was roth and not regular).

did you have any employer stock in the plans?  

as i said in other reply. wealth builder is taxable upon your receipt.  you MIGHT be able to convert it, pay the tax now and then hold in roth. depends upon the plan and rules.  

Tax Law (Questions About Taxes)

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Tax and general business including hospitality related (hotel mgmt degree and experience in industry prior to obtaining ms tax and cpa).

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19 years cpa. ms tax. NOTE: My discussions are only a general information and do not constitute tax advise without entering into a specific agreement and executing an engagement letter; This free chat is nothing more than general information and should not be construed as tax advice nor does my response or replies imply an agreement to provide client specific advice or other guidance for purposes of avoiding IRS tax or penalties and should not be relied upon without your own validation and confirmation of the how the discussion may fit your facts... Not having all the facts and/or not having a direct client relationship prevents me from providing the most accurate replies as possible and I highly suggest using a local CPA to provide you with written advice and guidance. Taking matters into your own hands is much akin to trying to land an airplane without a license. It is easy to FLY a plane, but LANDING is when critical experience is key. In short, caveat emptor; do your homework and don't just rely on free chat board advice anywhere, anytime.

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