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Roth IRA contribution re-characterization to Traditional IRA
I had a question about a particular circumstance. For 2022, say someone maxed out the Roth IRA contribution but is actually also eligible, based on the income limits, for a full $6,000 tax deduction for the Traditional IRA contribution. Can this original $6,000 contribution to the Roth IRA be re-classified to a Traditional IRA contribution for the same year (2022), without any tax implications (such as selling and withdrawing from Roth IRA)?
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‎February 28, 2023
4:03 PM