As a retired individual (66) my income is Social Security and two pensions. Is it possible to annually "recharacterize" a portion of my IRA ($6500) as a Roth IRA?

[haroldajaynes]

Can you suggest a strategy for moving money from an IRA to a Roth IRA for a retired individual/

[Hal_Al · Accepted solution]

Yes. The term is "convert" your IRA to a Roth. There is no $ limit on how much you can convert (unlike the $6500 contribution limit). A 2017 conversion had to be done by 12-31-17. Any conversion, you make now, will be a 2018 conversions and get reported next year. "Recharacterize" in tax lingo has a different meaning. 

[macuser_22]

You can convert (not recharactorize) any amount of a Traditional IRA to a Roth IRA that you want.   Because a Traditional IRA is before-tax money (unless you have a after-tax "basis" in it) and a Roth is after-tax money, you must pay the tax on the amount that is distributed from the Traditional IRA and converted to a Roth.  That tax can either be withheld from the distribution which leaves less to convert, or paid from separate funds.    You would inform the trustee of the IRA how much, if any, tax that you want withheld.