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I have two IRAs; one has all nondeductible contributions, value (9K) of which is right now lower than the amount contributed (12K) and other has my 401K money (165K) rolled over from previous job. My question is : When I convert nondeductible IRA to Roth will I have to pay any taxes ? If so, can you suggest some reading material which shows how to go about calculating those taxes. What effect the amount in rollover IRA will have on taxes ?

Thank you,
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