I read the Roth FAQ, and I've been lurking for a while, but a grasp on the following issue still eludes me:In 98 I converted a ~$20K IRA to a Roth IRA. All my contributions to the IRA were tax-deferred. I elected to take the ~$20K hit over four years, and basically added ~$5K to my income for '98. My salary puts me in the 28% bracket. After reading here about the 20% rate for long-term capital gains, I got to wondering whether I over-taxed myself with the Roth conversion. That is, almost all of the ~$20K IRA I converted was comprised of contributions I had made years ago. - Shouldn't therefore most of the gain be taxed at the LT cap gains rate? - If so, can I rectify this with an amended return?- In the next 3 years, in addition to the 1040 long form, what extra form(s) should I be using to calculate LT gains? KpLPS: thanks for this and all your previous info. You posters are doing a real service here.
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