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Level 1

I converted a rollover IRA to a Roth. Can I convert part of it back to the rollover IRA to save taxes ?

I converted in Dec 2017 and I converted more than I should have?  

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Level 6

I converted a rollover IRA to a Roth. Can I convert part of it back to the rollover IRA to save taxes ?

Yes, you can do a recharacterization of your Roth IRA conversion to reverse all or part of your conversion.

Please read this TurboTax article for more information:

https://turbotax.intuit.com/tax-tips/investments-and-taxes/reversing-a-roth-ira-conversion/L0yVOfwyZ


1 Reply
Level 6

I converted a rollover IRA to a Roth. Can I convert part of it back to the rollover IRA to save taxes ?

Yes, you can do a recharacterization of your Roth IRA conversion to reverse all or part of your conversion.

Please read this TurboTax article for more information:

https://turbotax.intuit.com/tax-tips/investments-and-taxes/reversing-a-roth-ira-conversion/L0yVOfwyZ