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As I understand it, deductible IRAs converted to Roths in 1998 _must_ (not "may") take a hit against income over four years and pay taxes accordingly. What I haven't seen in the various newspapers is information about whether you can transfer part of an existing IRA. For example, if I'm sitting on a $1M IRA (dream on...), can I in fact transfer $100K of it to a Roth, and will this result in an additional $25K in taxable income for 98,99,00,01?
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