had to eliminate spaces to fit in. Here is the full question:
I took $30000 from a qualified IRA and put it into a Roth. I know this created a taxable event but can I reverse this before I file my 2018 or is that transaction irreversible?You'll need to sign in or create an account to connect with an expert.
As a result of the Tax Cuts and Jobs Act, the transaction cannot be reversed by recharacterization of the Roth IRA.
Please take a look at the following FAQ from the IRS for more information: https://www.irs.gov/retirement-plans/ira-faqs-recharacterization-of-ira-contributions
As a result of the Tax Cuts and Jobs Act, the transaction cannot be reversed by recharacterization of the Roth IRA.
Please take a look at the following FAQ from the IRS for more information: https://www.irs.gov/retirement-plans/ira-faqs-recharacterization-of-ira-contributions
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