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boynton
Returning Member

convert Roth IRA contribution to a tradtional IRA

If I convert part of my 2019 ROTH contribution to a Traditional IRA in 2020 (before I file taxes for 2019),

can that converted contribution be deducted on my 2019 taxes?

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2 Replies
dmertz
Level 15

convert Roth IRA contribution to a tradtional IRA

You mean recharacterize, not convert.  Whether or not the resulting traditional IRA contribution for 2019 is deductible will depend on whether or not you or your spouse is covered by a workplace retirement plan, your filing status and your modified AGI for the purpose.

 

https://www.irs.gov/retirement-plans/ira-deduction-limits

convert Roth IRA contribution to a tradtional IRA

I think you mean recharacterize (treat the Roth as a Traditional IRA contribution as if the Roth contribution  never happened), not convert - a Roth can never be converted to a Traditional IRA.

 

Yes you can have the Roth IRA trustee do that and move both the Roth contribution and any earnings attributed to that contribution  to a Traditional IRA prior to the July 15 due date (or Oct 15 if you file a timely extension).  The IRA trustee would issue a 2020 1099-R reporting the recharacterization next January.

 

It would be deductible if you otherwise qualify to deduct it.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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