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Assume that total taxes make ROTH conversion income painful this year, but taxes for the next three can be managed easily.

If I convert even a small amount this year, the four year account is open. Now when I convert an appropriate amount (for my actual tax situation) each of the next three years, I pay tax for all I convert that year.

Then when the "five year holding period", based on the initial conversion is up, I believe I have access to ALL the converted funds and earnings from all four conversion years.

Is this correct?
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