conversion
I withdrew $200,000 from my traditional IRA in January. Now in April, can I convert this $200,000 to a new Roth IRA?
If I could do this, then could I recharacterize this amount back to my tradional IRA before year end?
Thanks.
I withdrew $200,000 from my traditional IRA in January. Now in April, can I convert this $200,000 to a new Roth IRA?
If I could do this, then could I recharacterize this amount back to my tradional IRA before year end?
Thanks.
Permalink Submitted by Anonymous (not verified) on Thu, 2010-04-15 17:13
You are outside the 60-day window to “roll” this money into a Roth as a conversion.
There is nothing you can do other than to ask for a Private Letter Ruling from the IRS to complete this. You must have a good reason why you missed this deadline. Otherwise you will spend a lot of money just for making a request.
pko