medium · Certified Financial Planner Psychology
A client in the Okada household has $90,000 in a traditional IRA consisting of pre-tax contributions and earnings, and $10,000 in another traditional IRA consisting of after-tax (non-deductible) contributions. The client wishes to convert $20,000 to a Roth IRA.
What is the taxable amount of this conversion?
- $10,000
- $20,000
- $18,000
- $2,000
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