Why Do I Owe The State Money For a Roth IRA Conversion?
by Mark
(San Diego)
I converted my Traditional IRA to my Roth IRA and was trying to decide if I should pay now or do the 2 year split.
I found when I decide to pay now that my money owed to me by the state of California becomes a big pile of cash I owe them.
I put this money into the Traditional IRA originally while living in TX that does not even state income tax.
Why does California get tax money for nothing?
Is something wrong here?
Thanks
Mark