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No. of Recommendations: 2
All you really need here is the answer to number (2), because the taxable conversion amount is just the value at conversion ($51,600) minus the amount of nondeductible contributions which have already been taxed -- in other words, all the value in the original IRA which has not yet been taxed.

A caution. This is true only if the account converted is the only traditional IRA account OP had.

Phil
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