MinhT1
Expert Alumni

Retirement tax questions

The transfer from a Traditional IRA to a Roth IRA is called a Roth conversion which is taxable as ordinary income. The taxable amount is the entire amount of the conversion. There is no penalty for the conversion even if you are aged under 59 1/2.

 

Please read this IRS document, especially the section on How do I convert my traditional IRA to a Roth IRA?

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