I have a traditional IRA, which has money which has been contributed three different ways:
- deductible IRA contributions
- non-deductible IRA contributions
- rollover from 401(k)
I'm looking at converting this to a Roth IRA in 2010, now that there's no income limitation. I also may only convert part of my traditional IRA this year, to avoid a bump in the marginal tax rate.
I also have a Roth 401(k), although I don't think this has any effect.
How would the calculations work for how much tax I would owe? Are there any other things I should be aware of?