Makes sense, I suppose it's not technically being taxed twice. But it still removes a lot of the benefit from being able to do the Roth conversion when so much of my traditional IRA is pre-tax. Effectively, any time I do the conversion, I'll have to pay my current high tax bracket on a large portion of the pre-tax funds, which I was hoping to avoid until retirement when my tax bracket will be lower.
Now I'm not even sure if contributing to an IRA will even offer me much of a tax advantage to be worth giving up on the liquidity of keeping it in non-retirement accounts. I guess I should've kept my 401k instead of rolling over to a Traditional...the power of hindsight!
Thanks for your help.
