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Retirement tax questions
if the custodian took $6,000 for tax, you only converted $44,000. you can see this by looking at your Roth statement.
In turbotax speak, you "did something else" with the $6,000.
BUT you will pay tax on a $50,000 distribution.
For this reason, it is often recommended that you pay the tax in some other way so the $6,000 can go into your Roth IRA. That's your choice.
March 21, 2023
8:15 PM