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This calculator
can help you decide whether the Roth IRA would provide an advantage over
a regular deductible IRA for your own situation. The first section handles
the conversion of an existing IRA to a Roth IRA. The other entries deal
with future contributions. The results show the post-tax income you would
have with each IRA if you were to withdraw everything your first year
in retirement.
* Source
of taxes due on conversion: if you select funds outside your IRA,
an amount equal to the tax due is added to the non-sheltered account corresponding
to the regular IRA.
** Contributions can be higher than the IRA limit. The calculator will
put as much as possible into each IRA, and put the excess into a non-sheltered
account.
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