Recharacterization of Roth IRA
A conversion was made of some assets from a Profit Sharing Plan (Qualified Plan) to a Roth IRA. Now the conversion is going to be recharacterized. Would the recharacterized funds go to a traditional IRA or would the funds go back to the Qualified Plan?
Permalink Submitted by Alan Spross on Wed, 2012-08-29 17:37
They must go to a traditional IRA. Taxpayer would need to open one if they don’t already have a TIRA.