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Retirement tax questions
If you convert a Traditional IRA to a Roth then unless you have an after-tax basis it will be taxed as ordinary income and add to your AGI which in turn affects the AMT. (Basis is non-deducible contributions reported on a prior 8606 form.)
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎December 1, 2021
3:16 PM