Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Roth recharacterization for 2017
Old 01-19-2018, 02:44 PM   #1
Full time employment: Posting here.
bmcgonig's Avatar
 
Join Date: Aug 2009
Posts: 945
Roth recharacterization for 2017

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-plans...nd-conversions
__________________

bmcgonig is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-19-2018, 02:47 PM   #2
Thinks s/he gets paid by the post
flintnational's Avatar
 
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,350
Thanks for posting. I think that is what many have been waiting to hear.
__________________

__________________
"Oh, twice as much ain't twice as good
And can't sustain like one half could
It's wanting more that's gonna send me to my knees" - John Mayer
flintnational is offline   Reply With Quote
Old 01-19-2018, 03:45 PM   #3
Full time employment: Posting here.
jimbee's Avatar
 
Join Date: Oct 2010
Posts: 616
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.
jimbee is offline   Reply With Quote
Old 01-19-2018, 04:24 PM   #4
Full time employment: Posting here.
bmcgonig's Avatar
 
Join Date: Aug 2009
Posts: 945
Quote:
Originally Posted by jimbee View Post
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.
bmcgonig is offline   Reply With Quote
Old 01-19-2018, 04:31 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 24,721
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.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56...target 65/35/0 AA
pb4uski is offline   Reply With Quote
Old 01-19-2018, 08:55 PM   #6
Thinks s/he gets paid by the post
Onward's Avatar
 
Join Date: Jul 2009
Posts: 1,815
Thanks for this post. I've been wondering about that.
__________________

__________________
And if I claim to be a wise man, it surely means that I don't know.
Onward is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Recharacterization conundrum: Ed Slott vs. Michael Kitces BrianB FIRE and Money 25 01-27-2018 08:29 AM
Roth recharacterization still OK for 2017? Curmudgeon FIRE and Money 3 12-26-2017 11:45 AM
Letter from IRS about Roth Recharacterization Looking4Ward FIRE and Money 18 08-08-2017 05:41 PM
Roth Conversion/Recharacterization strategy finally sunk in RunningBum FIRE and Money 29 04-16-2017 05:02 AM
Roth Conversions - - Recharacterization Sandy & Shirley FIRE and Money 18 09-03-2016 05:52 AM

» Quick Links

 
All times are GMT -6. The time now is 03:10 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
×