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Yes, you can undo a Roth IRA conversion
September 10, 2017
Categories: Retirement, Tax, Tax Breaks
Converting a traditional IRA to a Roth IRA can provide tax-free growth and the ability to withdraw funds tax-free in retirement. But what if you convert a traditional IRA — subject to income taxes on all earnings and deductible contributions — and then discover that you would have been better off if you hadn’t converted it? Fortunately, it’s possible to undo a Roth IRA conversion, using a “recharacterization.” Reasons to recharacterize There are several possible