MinhT1
Expert Alumni

Retirement tax questions

It is still possible to recharacterize a Roth IRA contribution to a Traditional IRA OR vice versa, by the due date of the tax return of the year the contribution was made.

 

The difference brought by the TCJA is that you can no longer recharacterize a conversion of a Traditional IRA to a Roth IRA , and a rollover from any other eligible retirement plan to a Roth IRA, made in tax years beginning after December 31, 2017.

 

Please read the instructions for form 8606, page 4 for more information,

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