For the last two years I have made contributions to a traditional IRA but was not eligible for the tax deduction. Next year our household will see an income increase (my wife id returning to work) and I am considering converting my traditional account to a Roth before year end. My TD Ameritrade rep told me that he thinks I will have to pay tax on the amount rolled despite having paid the tax once already. I seem to recall being told otherwise last year when I inquired about this -- that the amount was recorded as a post tax contribution and therefore would convert without an additional tax liability. Anyone know for sure?Thanks.
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