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Retirement tax questions
Yes, you can contribute to a traditional IRA because the income limitations for 2017 have been removed (as long as you or a spouse do not have access to a work retirement plan).
You are correct this is a change, see this info at the IRS here: https://www.irs.gov/retirement-plans/2017-ira-deduction-limits-effect-of-modified-agi-on-deduction-i...
Re-characterized means reversing a conversion back to a traditional or 401(k) type plan.
It sounds like your income is in a phase out range for the ability to contribute to a Roth. You can view these income limitations at the IRS here: https://www.irs.gov/retirement-plans/amount-of-roth-ira-contributions-that-you-can-make-for-2017
‎June 1, 2019
4:08 AM