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At today's tax rates, HR Block says you'll pay $14,400 in taxes on $110k of income with no deductions or 13% marginal tax rate. If a retired person took $110k out of a traditional IRA today with no other income, they would only pay $14,400 in taxes while the OP would be paying at least 25% x $110k or $27,500 in taxes or nearly twice as much.

In my prior post, I wrote the above statement. It should have said 13% effective tax rate instead of marginal tax rate

And to clarify, to convert $110k to a Roth IRA, the OP would pay at least 25% in taxes or $27,500 which is nearly twice as much as he would pay taking that amount out today assuming no other income.

Sorry for the confusion. Again, have a look at my older post where I lay out more details:

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