I am currently rolling my old employer sponsored 401(k) to a Vanguard account after switching jobs. Should I keep this as a traditional IRA or should I switch it to a Roth? I am trying to figure out what the tax advantages of doing this would be.
It is only about 8K dollars, so if I roll this over into a Roth I will have to pay taxes on it correct, and if so how do they tax this? Is it just counted as income for 2019?
Thanks in advance. All of the different accounts still confuse me to a degree.
