@NCperson @Critter-3 - are the taxable dollars subject to the 10% penalty if under 59.5 years old????? Not when it is a conversion since it is not a distribution.
@VAer
Ok ... you have posted conflicting information so if all the contributions to all your traditional IRA accounts were made with non deducible contributions and there were no earnings then everything is converted to the ROTH tax free. Otherwise only part of the conversion will be tax free. For instance ...
Traditional IRA contributions to all IRA accounts = 4000 deductible + 4000 non deductible = 8000 + 2000 earnings over the time you had the IRA for a total balance of $10,000. Now you convert 4000 to a ROTH. You cannot just convert the 4000 non deductible portion of the total. The % of non deductible to the entire balance is 40% thus only 40% of the conversion is tax free and the rest of the 60% conversion is not tax free ... the form 8606 will do this computation automatically.
