I have a traditional IRA for over 5 years and it had a high value of $15000. In 2025, I learned about conversion to Roth IRA and the value was down to $11,000. I received a 1099-R showing my $11,000 withdraw. Are you saying I won't get taxed on this? Isn't $11,000 added to my overall income and increases the taxes I have to pay??
