Hi,
The software is working fine. However, is there a way to account for 401k rollovers to a Roth IRA between ages 59 ½ up to age 70 in the scenarios? It doesn’t appear as though that’s an option to explore in the software – or am I missing something? Would there be a manual way to do it?
ANSWER:
Sure here is how:
- Enter a Special Expense for the full amount from the 401k and set last column to “Tax Deferred Only” This will pull the exact amount out of the 401k
- Calculate the net amount of the rollover… i.e. the gross minus taxes
- Go into Cash Infusions and enter this net amount as “Roth IRA rollover” or something like that. Then set the last column to add it into the Tax Free bucket