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Retirement tax questions
Recharacterizing is of no help if you don't have the compensation to support the contribution. Without sufficient compensation to support the contribution, recharacterizing will just change an excess Roth IRA contribution into an excess traditional IRA contribution. Recharacterizing is only of benefit if the Roth IRA contribution is an excess contribution only because your modified AGI for the purpose is too high.
‎February 21, 2020
9:26 AM
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