@Kopitiam
IRS says:
"You can withdraw all or part of
the assets from a traditional IRA and reinvest them (within
60 days) in a Roth IRA. The amount that you withdraw and
timely contribute (convert) to the Roth IRA is called a conversion
contribution. If properly (and timely) rolled over,
the 10% additional tax on early distributions won’t apply.
However, a part or all of the distribution from your traditional
IRA may be included in gross income and subjected
to ordinary income tax."
