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New Member
posted Jun 6, 2019 5:36:54 AM

I am married and filing separately.I make $86,000and fully fund my 403b.Not knowing the rules, I fully funded my RothIRA .Can I convert the Roth into a Traditional IRA?

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1 Best answer
Expert Alumni
Jun 6, 2019 5:36:56 AM

You can recharacterize the contribution. That will make it a Traditional IRA contribution, and you won't be penalized for that.

You then convert the balance in the Traditional IRA to a Roth.

  1. You need to recharacterize the Roth contribution today. The Traditional IRA contribution will be on your 2016 tax return
  2. If you decide to convert the Traditional IRA to a Roth, that will be reported on your 2017 return (you can't convert for 2016 in 2017)

1 Replies
Expert Alumni
Jun 6, 2019 5:36:56 AM

You can recharacterize the contribution. That will make it a Traditional IRA contribution, and you won't be penalized for that.

You then convert the balance in the Traditional IRA to a Roth.

  1. You need to recharacterize the Roth contribution today. The Traditional IRA contribution will be on your 2016 tax return
  2. If you decide to convert the Traditional IRA to a Roth, that will be reported on your 2017 return (you can't convert for 2016 in 2017)