I recently took my retirement in a cash balance and rolled it into a conventional IRA. If I had rolled it into a Roth IRA instead, would I have had to pay taxes on the amount. If not,would there be any way to reverse this blunder? I understand that I would have to pay taxes on the amount if I simply converted my conventional IRA to a Roth.So far you are doing the right thing.You can not roll money into a ROTH with out having the money in a regular IRA first. Now you can pay your tax and roll to a ROTH if you want.
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