- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Recharacterized roth into traditional IRA. Want to add another 6k and convert all to roth
I am in NY, with income now over roth contribution limit.
In 2021 , I put 6000 to roth before my income went over limit. Then went over income limit and no longer qualify. In 2022 February, i recharacterized 5200 to traditional IRA (800$ loss). I just filed 2021 taxes and included the recharacterization.
Now in 2022, I want to add another 6000 to traditional, and convert ALL (5200 from recharacterization + 6000 i put into traditional), into Roth.
Can I do this? If so How do I file this? Since 5200 is from recharacterization (and i filed this in 2021 taxes), and 6000 i want to do as part of 2022!. I want to do this before 5200 loses or gains money to maybe simplify my taxes?
Will I be taxed extra (its all post tax money technically...)
‎April 17, 2022
12:49 PM