move nondeductible portion of Traditional IRA to Roth IRA?

[rsteve]

I have a traditional IRA with about 50% being contributions made that were not deductible in the contribution year. Can I move just that amount to a roth IRA with no penalty, since I've already paid income tax of that contribution? I want to do this so future appreciation is not taxed upon withdraw.

hanks.

 

[davew9128]

There is no penalty on any portion of it convert to a Roth.

 

[FlyingRon]

There is no penalty on any portion of it convert to a Roth.

There's no penalty, but the part that represents the deductible contribution to a traditional IRA (and the resultant growth), is taxed at conversion time.
The non-deductible contributions are transferrable without tax (within the contribution limits).