Traditional IRA Contribution

[CJB-1959]

In 2024 I made a $8000 contribution to my Roth IRA as I anticipated working part-time last year but was unable to reach an agreement with the prospective employer on compensation.  Because I had no earned income in 2024, I had to rescind the Roth IRA contribution which I did in January 2025, by moving the dollars ($8000 plus $1418.15 in taxable earnings) back to my regular brokerage account (Not an IRA account). 

I now want to make a $8000 contribution to my Traditional IRA for 2024 to reduce my income tax liability.  Can I still make a $8000 contribution to my traditional IRA since I reversed the Roth IRA contribution?

Turbo Tax says I can still make a 2024 contribution to my Traditional IRA but the online brokerage system is not allowing me to make the 2024 contribution as it is still showing a 2024 contribution to my Roth IRA? Thoughts? (Note: I have contacted Vanguard about this)

[MinhT1]

You said that you had no earned income in 2024 and had to withdraw your excess Roth IRA contribution.

You also need earned income to contribute to a Traditional IRA. Without earned income, you cannot.

Please read this IRS document for more information.

[CJB-1959]

My wife had earned income in 2024 before retiring on July 1, 2024. Does this change your response?

[MinhT1]

If your wife had earned income to cover your contribution, you can contribute to a Spousal Traditional IRA.

Please read this IRS document for more information.

[CJB-1959]

Thank you for taking the time to answer my question.

So when I "undid" my $8000 Roth IRA contribution should have I recharacterized it to my Traditional IRA vs. transferring the money back to the original source of the funds which was my regular taxable  brokerage account?  If so, can I rectify this by contacting the account custodian (Vanguard)  to correct my error if I do so by April 15, 2025?

Any additional information you can provide would be greatly appreciated. Thank you.