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I decided to convert my traditional IRA to Roth IRA. I want to know how much will I get taxed and when will I be paying these taxes and what forms do I need. My scenario is: I have just started saving for the IRA in the past three years. I have taken tax deduction for the past two, I am planning not to take it this year. Also wanted to know if I was going to be taxed for the standard $2,000 deduction or also for the interest that they have made in the past years. And would my deduction for 1998 not be taxed as I will not be taking the deduction for it in 1998 tax year.
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