@krizan628 wrote:
The contributions were made to my wife's existing IRA with a balance over $50,000. The entire IRA balance besides the $2,044 of non deductible contributions were made using pretax dollars so rolling the non deductible contributions into a Roth seems like it would be difficult. Am I able to withdraw the $2,044 of contributions made with after tax dollars without a penalty?
There might still be an argument to be made for doing the Roth conversion, even though most of the conversion will be taxable. A financial analyst might have to help you run the numbers for current and future implications. But, you can withdraw the contributions before the end of the year.
