Discussion:IRA - Recharacterization
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Discussion Forum Index --> Tax Questions --> IRA - Recharacterization
| 29 June 2007 | |
| Client contributes to a Roth IRA (2006) prior to April 15 (2007). However, he does not qualify to make a 2006 Roth IRA contribution. He does not participate in a retirement plan.
If he now recharacterizes the Roth IRA (2006) to a Traditional IRA (2006), does he still get the deduction (2006) or does he lose the deduction? | |
| 30 June 2007 | |
| too late in June. Lose - he needs to have done it by 4/17 this year. Needs to take it out of the ROTH asap. | |
| 1 July 2007 | |
| If the return is on extension, he has until October 15 to recharacterize. If the return is not on extension, but the return was filed timely, he also has until October 15 to recharacterize. | |
| 13 March 2008 | |
| Discussion:IRA recharacterization timing | |
| 13 March 2008 | |
| Discussion:Roth IRA recharacterization with loss
| |
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