can you transfer traditional ira to roth
Tax Rates. The money you transfer from a traditional IRA to a Roth is added to your other income in the year of the conversion. It is taxed at your highest tax bracket, or marginal tax rate. As an example, assume you are in the 28 percent tax bracket.The converted money will be taxed at a rate of at least 28 percent.ou can move funds between multiple IRA accounts without any tax liability as long as the accounts are both traditional IRAs or both Roth IRAs. There are tax consequences when you transfer money from a traditional IRA to a Roth.