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Does a tax filing extension also provide Roth IRA reversal extension for 2017?

 
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5 Replies
AmandaR1
New Member

Does a tax filing extension also provide Roth IRA reversal extension for 2017?

If you extend, yes, you have up until the extension to recharacterize your Roth contributions. Note that this is the last year that this is in effect because the recent tax act removed the ability to recharacterize your contributions to a Roth in the following year.  

See this info at the IRS here: https://www.irs.gov/retirement-plans/ira-faqs-recharacterization-of-ira-contributions

shrink261
New Member

Does a tax filing extension also provide Roth IRA reversal extension for 2017?

Can you file a 2017 Federal extension late if you did not owe a balance? I may need to recharacterize my 2017 Roth conversion-can I do that by October 15 2018 even without filing the Federal extension?

Does a tax filing extension also provide Roth IRA reversal extension for 2017?

"The election to recharacterize and the transfer must both take place on or before the due date (including extensions) for filing your tax return for the tax year for which the contribution was made to the first IRA."
You missed the deadline to request an extension.

Does a tax filing extension also provide Roth IRA reversal extension for 2017?

Did you convert IRA funds to a Roth? or did you make a contribution to a Roth?
dmertz
Level 15

Does a tax filing extension also provide Roth IRA reversal extension for 2017?

If you neither filed your tax return nor requested a filing extension by the regular filing deadline, you are not now permitted to recharacterize because you did not meet the requirements for the recharacterization deadline to be extended beyond the regular filing deadline.
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