can you convert a traditional ira to a roth ira
Roth IRA Conversion Taxes. When you convert from a Traditional IRA to a Roth IRA you pay income tax on the contributions. The taxable amount that is converted is added to your income taxes and your regular income rate is applied to your total income.he IRS rules have changed and there is no longer an income cap in place. With the cap removed high income earners can now convert as long as they pay the appropriate tax on the conversion. There is no 10% early withdrawal penalty if the funds move from the Traditional IRA to the Roth IRA in a 60 day window.