hard · Certified Financial Planner Psychology
A client has 90,000 in a traditional IRA consisting entirely of pre-tax contributions and earnings. They also have10,000 in a separate traditional IRA consisting of non-deductible (after-tax) contributions.
If the client converts $10,000 to a Roth IRA, what amount is taxable?
- $0, because the client converted the 'after-tax' account specifically.
- $1,000
- $10,000
- $9,000
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