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When you make a Roth conversion, you add the entire amount converted to your taxable income for that year. For example, say that you convert $100,000 from your 401(k) to a Roth IRA in 2024.
Yet one financial-advice platform, Boldin, saw a 128% rise in the use of its Roth conversion calculator in 2024 over the previous year. Beth Pinsker is a financial-planning columnist at MarketWatch.