I converted a traditional IRA CD in January of 2012 to a ROTH IRA CD.
Well, I just did the taxes on trubotax and because of other income, our taxes are through the roof!
I'm looking to recharacterize the ROTH IRA CD back to a traditional IRA CD this week.
Question is: Do I get immediate credit on my 2012 taxes so I don't have to pay the taxes on the conversion?
Well, I just did the taxes on trubotax and because of other income, our taxes are through the roof!
I'm looking to recharacterize the ROTH IRA CD back to a traditional IRA CD this week.
Question is: Do I get immediate credit on my 2012 taxes so I don't have to pay the taxes on the conversion?