Great- thank you!
I was reading that there are limits to what can be deductible for the Traditional IRA. If someone makes over $75,000 then they cannot take an IRA deduction. In this case, for the recharacterization to a Traditional IRA because I make over $75,000 does this mean that I cannot take a deduction for this contribution to the Traditional IRA from the recharacterization? In that case, I would fall into the non deduction category. Does that mean when I take out the money from the IRA when I am in retirement then I can take out the money from the recharacterization without paying taxes on it? How is this tracked?
Thank you for all of the help!
