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Originally Posted by Sweepsplayer
No loophole. I was referring to a traditional IRA. If you want to convert to a Roth IRA, then yes, you must pay taxes on it.
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Ah, that is what I figured. So would you recommend rolling it into a traditional? I'm guessing the Roth route would be really stupid since taxes would kick in just as if you decided to withdraw the money. And withdrawing the money is a big mistake.