Hello,
For example if I have a pretax 401k worth $100k that allows in plan Roth conversions. I also have a Roth IRA worth $200k of which about $80k is contributions. I'm under 59.5 and the Roth IRA is over 5 years old.
If I do the in plan conversion, pay they tax to do so, leave my job and rollover the now Roth 401(k) into my Roth IRA how is the money of that $100k rollover classified? Is it treated as regular Roth IRA contributions, is it treated as a Roth conversion, is it something else?
What if that 100k I converted grows to 110k before I complete the rollover into the Roth IRA? Are the earnings post conversion treated differently?
Likewise what if I don't have a Roth IRA to begin with or it hasn't been open for 5 years?
Does anything change if I'm over age 59.5 when this all happens?