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Originally Posted by gar1976
Rolling over from a 401(k) to a regular IRA is a tax-free event, better luck next time.
Regular IRA accounts also use pretax dollars. ROTH IRA accounts are post-tax contributions.
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I didn't get penalized, I followed the procedures outlined. I do know plenty of people that cashed their checks instead of depositing it because they wanted a "toy".
how is a regular IRA also pretax dollars since you're paying it from after your paycheck is cashed? Is that done on the back end during income tax filing?
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