Convert “Never Been a Traditional” Roth IRA to Traditional

I would like to convert an original Roth IRA into a traditional IRA. It never was a traditional. Can this be done.



No, but you can recharacterize a contribution before the deadline. Explain what happened here. What year is the Roth contribution for? Are you trying to change it to get a tax deduction?



Our client made $6,500.00 of ROTH IRA contributions in 2013 which it turns out his inocme is too high for him to use a ROTH IRA.  I was wondering if he could back out of the ROTH & move the dollars to a Traditional IRA



Yes, a 2013 Roth contribution can still be recharacterized as a TIRA contribution IF client has either filed or extended his 2013 tax return. The deadline to recharacterize would then be 10/15/2014. If either client OR spouse is covered by a retirement plan at work for 2013, the recharacterized contribution would not be deductible, and Form 8606 could be filed by itself for 2013 showing a non deductible contribution of 6,500. This would not affect the 2013 return tax due, and therefore the 2013 8606 could be sent to the IRS center without amending the return.



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