I Have $640k in a 401(k). How Can I Minimize Taxes When Converting to a Roth IRA?

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Converting a 401(k) to a Roth IRA can potentially provide valuable long-term benefits, but it also triggers a tax bill that you’ll need to plan for. While the taxes on a Roth conversion can’t be avoided, savers can reduce the burden through several strategies like gradual conversions and timing adjustments. Those nearing retirement can weigh whether they have enough time left to offset conversion taxes thr ...