If you’re looking to rollover your IRA into a Roth IRA, you might be worrying about the amount of taxes you’ll need to pay when you make this rollover. Of course, your tax bill really depends on the situation of your rollover IRA. In traditional IRA’s rollover, the money that’s contributed to your account is taken out of your check before taxes are ever applied. When you take the money out during your retirement, it will be taxed accordingly. However, with a Roth IRA rollover, contributions are already taxed when they’re put into the account, so that when you take a Roth IRA distribution, it isn’t taxed. (more…)