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taxes on Traditional 401k conversion to Roth 401k ?
I converted some money from my traditional 401K to Roth 401k (same employer). Do I pay taxes on the amount? The amount on gross distribution (1) is the same as on the field Taxable (2a). HOWEVER, the distribution code (7) is G. I am getting confused if I owe taxes since distribution code=G means no taxes are owed? Would appreciate your help, thanks!!
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‎April 24, 2021
1:25 PM