Roth Conversion and recharacterization
If someone converts an IRA to a Roth IRA. Then dies in the same year after doing the conversion. Can the estate undo the conversion by the October 15 following the year of conversion? Is it not possible since the estate is not an individual or is the maximum date earlier due to the other IRA beneficiary provisions?
Permalink Submitted by Alan Spross on Mon, 2010-02-15 17:59
Yes, the executor has up until the extended due date for the year of conversion to recharacterize the conversion.
Permalink Submitted by wes carr on Mon, 2010-02-15 18:04
Thank you. Do you know where this is referenced in the code for my accountant and attorney friends?
Permalink Submitted by Alan Spross on Mon, 2010-02-15 20:13
See A-6(c) in the att’d IRS Reg:
http://www.taxalmanac.org/index.php/Treasury_Regulations%2C_Subchapter_A…