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April 15, 2024
Question

Is there a way to show that I'm paying for a roth ira instead of a conversion? Do I just get taxed again because its coming out of my account?

  • April 15, 2024
  • 1 reply
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1 reply

April 15, 2024

To clarify you moved funds from a traditional IRA to Roth IRA? If yes, then this is a conversion and is taxable unless you made nondeductible contributions to the traditional IRA (had a basis).

 

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