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Should I Convert my regular IRA to a Roth IRA? I know this question must have been asked before but I cannot read all these posts!

For a quick overview of whether to use a Roth IRA, see:

Roth IRA Rules of Thumb

That page provides links to other pages providing more details on the various considerations.

Can I take the conversion effective at the first of this year, or do I take the current value of my IRA as the basis for figuring the tax?

No, you have to use the value as of the date of conversion.

Should I wait for the market to pull back before conversion?

If you sincerely believe you can predict a drop in the market, why is your IRA entirely in equities?

Kaye Thomas, author
Fairmark Press Tax Guide for Investors
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