Pls Confirm: Can I recharacterize Roth after Jan 1 to get 2016 ACA Subsidy?
I want to confirm that I don't have a 12/31/16 deadline to do a Roth recharacterization for purposes of bringing my MAGI under the 400% FPL to get an ACA subsidy for 2016. I think this is true but there is too much at stake to risk it.
I'm pretty busy with the holidays and don't really want to finalize the numbers, which requires estimating 12/31 CD and bank account interest and making sure I don't miss something. It'll be easier when I do my taxes later in January or February, but I want to make sure that it won't be too late then.
I had made a calendar note to check the numbers to see if I had room for more conversions under the 400% FPL, which I think would have to be done by 12/31, but it looks like I'm a bit over rather than under.