@GeorgeDenseff wrote:
You can convert the ROTH IRA to a traditional IRA at anytime. Contact your bank or brokerage to make the change. That way you can still contribute to an IRA: There are no income limits for contributing to a traditional IRA.
That is not correct. A Traditional IRA is before tax money and yiu can convert that to a after-tax Roth by paying the tax on the amount, but you can never go the other way around. Roth IRA's can never be converted to a Traditional IRA. It is not possible to convert after-tax money to before-tax money.
You can have current year Roth *contributions* recharactorized to a Traditional IRA which is NOT a conversion and only applies to new current years contributions.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
