In the
end, this means there will be an IRA deduction
of up to $ 5,500 in 2015 (reported on Line 32
of Form 1040), Roth conversion income
of up to $ 5,500 to
match it (reported on Line 15
of Form 1040), and since both are above - the - line income / deductions on the tax return, the net result is $ 0
of Adjusted Gross Income (AGI) and a $ 0 tax liability, even while getting the whole $ 5,500 in a Roth IRA!