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February 4, 2020
Question

Tax Year Prior to 2020: If I convert IRA to Roth IRA, do I pay taxes on $ i already paid taxes on? I opened Trad IRA acc in 2019 but cannot deduct IRA contr due to my income and employer 401k.

  • February 4, 2020
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February 4, 2020

You may be liable to pay taxes on any earning on the IRA account before conversion.

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