Permalink Submitted by Alan Spross on Wed, 2007-11-28 00:03
You cannot convert from a pre tax solo K account to a designated Roth account within the same plan. Your Roth contribution option is limited to new deferrals only.
Perhaps you should have transferred part of your prior 401k to a traditional IRA, from which you could initiate a conversion. Since the old 401k is apparently now in your solo K plan, you may not be able to get it out without terminating the plan. Another option may exist if you meet the age requirement under the solo K plan provision to take in service distributions. If you could do that, you could transfer an amount to a TIRA, and then convert it.
Permalink Submitted by Alan Spross on Wed, 2007-11-28 00:03
You cannot convert from a pre tax solo K account to a designated Roth account within the same plan. Your Roth contribution option is limited to new deferrals only.
Perhaps you should have transferred part of your prior 401k to a traditional IRA, from which you could initiate a conversion. Since the old 401k is apparently now in your solo K plan, you may not be able to get it out without terminating the plan. Another option may exist if you meet the age requirement under the solo K plan provision to take in service distributions. If you could do that, you could transfer an amount to a TIRA, and then convert it.