dmertz
Level 15

Deductions & credits

"1. Just withdraw the money as a regular withdrawal.  Withdrawals of contributions from a Roth IRA are tax-free and have no time limits.  Then, make an independent contribution to a pre-tax IRA."

 

This doesn't negate the Roth IRA contribution.  If you just take a regular distribution of this $8,000 contribution made for 2024, you will still have already made the maximum $8,000 contribution for 2024 and you will not be eligible to contribute anything to a traditional IRA for 2024.

 

As Mike9241 suggests, for a majority of people the long-term tax savings resulting from eventual tax-free distribution of gains in the Roth IRA will be greater than any benefit from the tax deferral that you get with savings in a traditional IRA.