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George ( age 4 2 at year - end ) has been contributing to a traditional IRA for years ( all deductible contributions ) ,
George age at yearend has been contributing to a traditional IRA for years all deductible contributions and his IRA is now worth $ He is planning on converting the entire balance to a Roth IRA account. George's marginal tax rate is percent.
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b What are the tax consequences to George if he takes $ out of the traditional IRA, pays the taxes due from the traditional IRA distribution, and contributes what's left from the distribution to the Roth IRA one week after receiving the distribution?
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