OK thanks. So if I'm converting in 2025 I think I should use the 12/31/24 balances to determine percentage that is taxable. If all of my IRA's are valued at $200K as of 12/31/24 and I have made $60K in non-deductible contributions over the years then 70% of any Roth conversions in 2025 will be taxable? Some folks have said that I would use the 12/31/25 balances to determine the taxable portion, but that just doesn't seem correct.
