Is the market bloodbath an opportunity to convert IRA to Roth and mitigate the tax hit?

[Boyan]

Hi everyone,

Clearly we're into a bear market bloodbath so I want to ask the tax gurus here: is it NOW that a window of opportunity has opened to convert a sizable traditional IRA into Roth and minimize the tax hit? The traditional IRA is pre-tax money only and gains and due to the current market the total account value is lower today than if said conversion is to be executed under bullish market conditions?

Thank you all!

[JohnB5677]

We legally can not give financial advice.

What you've stated so far is common knowledge, but I suggest you consult a financial professional for advice.