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<<If a regular IRA is rolled to a Roth IRA in 1998 (and only in 1998), one-fourth of the amount rolled
MUST be declared as income in each of the years 1998 through 2001, inclusive.>>

Pixy, is this correct in all cases? Let's say I wish to roll over a $50k non-deductible regular IRA, $20k of which represents my own already-taxed contributions. Am I still going to owe tax on the entire rollover amount, or just on my $30k of untaxed gains?

Thanks for clarifying this point for me.

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