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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.)
March 24, 2022
9:02 AM