In the beginning of the year, I made my annual $5500
contribution (after taxes) to my Traditional IRA because I anticipated I would
not be eligible to contribute to my Roth IRA. Since I got laid off and did not
work for several months during 2017, I am well within the AGI contribution
ranges for a Roth IRA. Would there be any tax implications of recharacterizing and moving the $5500 over
to my Roth IRA since it would occur within the same calendar year? Also
would I just re-characterize the $5500 or would I need to figure out how much
this money grew and move that amount as well?
