Converting a $1 Million 401(k) in a Single Year Costs Roughly $330,000 in Federal Tax. Spreading It Over Eight Years Can Save Six Figures, and Medicare Charges Extra Either Way

Converting a $1 Million 401(k) in a Single Year Costs Roughly $330,000 in Federal Tax. Spreading It Over Eight Years Can Save Six Figures, and Medicare Charges Extra Either Way

The post Converting a $1 Million 401(k) in a Single Year Costs Roughly $330,000 in Federal Tax. Spreading It Over Eight Years Can Save Six Figures, and Medicare Charges Extra Either Way appeared first on 24/7 Wall St.. Convert a $1 million traditional 401(k) to a Roth in a single tax year and a married couple filing jointly hands roughly $330,000 to the IRS on that one return. Slice the same conversion into eight annual pieces and the total fede…