3 X E Question 57 of 75. Wallace's income is too high to make contributions to...

Transcribed Image Text:

3 X E Question 57 of 75. Wallace's income is too high to make contributions to a Roth IRA. He would like to convert his traditional IRA to a Roth IRA. His current balance is $205,000, which includes $36,575 in nondeductible contributions. How much of the conversion will be subject to tax? O $0 O $36,575 $168,425 $205,000 Mark for follow up 3 X E Question 57 of 75. Wallace's income is too high to make contributions to a Roth IRA. He would like to convert his traditional IRA to a Roth IRA. His current balance is $205,000, which includes $36,575 in nondeductible contributions. How much of the conversion will be subject to tax? O $0 O $36,575 $168,425 $205,000 Mark for follow up