How much tax will jessen owe if he completes

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Reference no: EM133659649

Question: Jessen (age 45) rolled over his 401K from a previous employer into an IRA at TD Ameritrade several years ago (all pre-tax dollars). His IRA is now worth $100,000. This year he wants to convert the entire balance to a Roth IRA account (assume conversion happens within two days). Jessen's MTR this year is 22%, and he expects his future MTR to be 25%. How much tax will Jessen owe if he completes the Roth conversion using funds from his traditional IRA to pay the taxes due, contributing what's left over to the Roth IRA?

Reference no: EM133659649

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