Roth recharacterization for 2017

[bmcgonig]

Clarification from IRS. You can recharacterize a 2017 conversion. I think this is "news".


"How does the effective date apply to a Roth IRA conversion made in 2017?

A Roth IRA conversion made in 2017 may be recharacterized as a contribution to a traditional IRA if the recharacterization is made by October 15, 2018. A Roth IRA conversion made on or after January 1, 2018, cannot be recharacterized. For details, see “Recharacterizations” in Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs).





https://www.irs.gov/retirement-plan...cterization-of-roth-rollovers-and-conversions

 

[flintnational]

Thanks for posting. I think that is what many have been waiting to hear.

 

[jimbee]

The page shows a review/update of Jan. 18, 2018. It would have been nice if this was clarified before the end of 2017. Maybe it was and I missed it.

 

[bmcgonig]

The page shows a review/update of Jan. 18, 2018. It would have been nice if this was clarified before the end of 2017. Maybe it was and I missed it.

Yeah. It would have, but it wasn't until today.

 

[pb4uski]

Yes, it just confirms for once and all what many of us thought would happen and was confirmed through back channels about a week ago.

Thanks for posting.

I think I'll send it to my Vanguard rep.

 

[Onward]

Thanks for this post. I've been wondering about that.