Roth IRA to Traditional IRA
Is it possible to transfer money from a Roth IRA to a traditional IRA.
If it is this money is post-tax – how is it handled if I want to transfer that money back into a Roth IRA.
Please don’t go thru the advantages of disadvantages of the two – I know this. I need to fix something.
Please just give me a straight answer.
Permalink Submitted by Alan Spross on Thu, 2008-03-06 23:17
The only way this is possible is under the recharacterization rules for either a regular Roth contribution or Roth conversion contribution. The deadline to recharacterize these is the same, ie 10/15 of the year following the contribution. After that date it cannot be done. It also cannot be done with respect to any values that are not part of one of these contributions. Recharacterizations that are allowed must be done with an earnings allocation, either positive or negative. Instructions are contained both in Pub 590 and the Inst for Form 8606.
If this does not work for you, feel free to describe the situation you are trying to alleviate.