Retirement Savings and Benefits
Questions and comments about IRAs, 401k accounts, social security, and other forms of retirement savings and benefits.
What to do about nondeductible IRA funds rolled over into my solo 401k?
Posted by: console, April 16, 2017 11:21PM
I had a Traditional IRA that included a contribution during a year when the contribution wasn't tax-deductible because my wife contributed to her 401k account that year (and so I submitted a form 8606 that year).

Last December I did a rollover of that entire Traditional IRA into my self-directed solo 401k. I just found out that the nondeductible contribution isn't allowed to be rolled over into a 401k.

What should I do now? Is it ok to to just accept that I'll be taxed again on those funds? (I plan to do an in-plan rollover of the entire 401k to a designated Roth account, so I would pay the tax then).



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