Hi - I’m planning on converting my IRA into Roth. Im holding 2 stocks and some cash in there. I know that I don’t need to liquidate the stocks in order to convert. But could you help me understand if the conversion tax will be based on the value of the stocks as of conversion date? I would hope that is the case (and tax is not based on the value of the stock at the end of 2021 for example).
Thanks.