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New Member
posted Jan 18, 2025 9:35:59 AM

what does nontaxable conversions less withdraws mean

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1 Replies
Expert Alumni
Jan 21, 2025 7:23:01 AM

Generally this has to do with Roth retirement accounts.  A nontaxable conversion is after-tax amounts that won't be subject to income tax. Any before-tax portion converted will be included in your gross income for the year (such as earnings).

 

Depending on age and time frame, there could be a penalty.  Please update with more detail if you need further assistance and we can help.