IRA basis and non-basis money converted to ROTH

I have one IRA, of several, that contains nondeductible contribution about 20% of the total in this IRA.
I want to convert about half to a new ROTH. All accounts are in one company so it would a direct conversion.
The other IRA’s are values are in total 5 times the size of this IRA. I believe the percentage that would be tax-free would be
about 4% (20/5.) Therefore is the tax-free conversion a small amount (around 4%) and the rest is taxable at my tax rate?
The taxes would paid from an outside source, not the IRA.



Yes, Form 8606 will be used to report the conversion and calculate the non taxable amount. I figure about 3.3% would be non taxable based on your value estimates. You should have filed a Form 8606 for each year you made a non deductible contribution in the past to document your IRA basis.

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