Will Roth Recharacterizations Go Away?

[latexman]

Tucked inside the tax legislation making its way through Congress is a simple line that would erase Section 408A(d)(6) of the Internal Revenue Code. Don't let your eyes glaze over ... particularly if you converted traditional IRA funds to a Roth IRA in 2017. The threatened section of the law is the one that gives you a chance to change your mind and reverse the conversion. If the proposal becomes law, Roth conversions will become irreversible, one-and-done decisions.

https://finance.yahoo.com/news/tax-bill-congress-threatens-retirement-161004672.html

Dang, I had not heard about this before. I'd hate to lose that option.

 

[sengsational]

I hope so.

That play where you make many bets and you reverse all but one is a total hack.

I hold nothing against the people that go through that exercise, but I could never justify the extra paperwork and risk I'd mess it up and shoot myself in the foot.

 

[Alan]

After discussion the moderator team has decided that there should be no more threads on tax bills until something has passed both chambers and is in reconciliation.