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I'm curious why would this increase taxes if those contributions that get converted are after-tax anyway and the amount that gets taxed shouldn't change?
by paulclinger 5y ago
I'm curious why would this increase taxes if those contributions that get converted are after-tax anyway and the amount that gets taxed shouldn't change?
- ryandrake 5y agoIt admittedly depends on a rather broad definition of a tax increase. The future gains from those contributions invested today are not subject to taxes due to them being in a Roth account, but with this legislation, one would need to make those gains outside of a Roth, and thus those gains would be subject to taxes.