The year-end value of your traditional IRAs is the combined Fair Market Value of all amounts contained within all of your traditional IRAs (including SEP and SIMPLE IRAs) on December 31. Money in a money market account held by your traditional IRA is still part of the FMV of your traditional IRAs.
Had you moved your whole traditional IRA to the Roth IRA instead of only half, you would have to pay even more in taxes.
