dmertz
Level 15

Retirement tax questions

The tax code says that the original recharacterization is irrevocable.  I interpret that to mean that re-recharacterization is not permitted.

 

A return of contribution would be $6,000 with the distribution being $6,000 plus the $200 of gains while in the traditional IRA plus the gains or loss on the $6,200 while in the Roth IRA.  (If my interpretation is incorrect and re-recharacterization is permissible, this same amount would be transferred to a traditional IRA.)