This is a little off topic, but I have the following concern. What about some of the tax implications of rolling over a Traditional into a Roth. Are all of the amounts taxed at you income rate?
My income will be about 60K this year. I rolled over about 30K in 401K from previous emplyer into Traditional IRA’s,and then converted into Roth IRA’s. I elected to withhold the standard 10%, however, I am wonering if at tax time I will owe the remaining 18% to the IRS. Can anyone help me on this one?
