I'm rolling my old employee 401k into a Solo 401k with the help of @Dmitriy Fomichenko Sense Financial Services. I'm keeping all the different balances in separate bank accounts. I don't have a CPA so wanted to see if the community can help.
My question is for reporting and filling purposes do I need to distinguish and keep separate, taxable money in my ROTH account and non-Roth taxable monies?
How or why I have taxable dollars in my ROTH account I don't know.
I have 3 accounts
Roth - $8
Roth Pre-Tax - $2
Non-Roth Pre-Tax - $90
I want to move the $2 and the $90 into the same account, so I'll have 2 accounts.
Non-Roth - $92
I've attached a sterilized copy of the Distribution Statement from Fidelity. https://drive.google.com/open?id=0B2fKR0DGIhojWmpJ...
we address all of your questions on our Client Portal. I will send you private email with the link. In the future you can send me direct email if you need any guidance or help with your Solo 401k plan.
Yes the solo 401k rules require separate tracking of all three solo 401k fund sources:
Source 1: Pretax
Source 2: Roth
Source 3: After-tax
The reason for the separate tracking requirement is that each type is subject to different distribution rules.