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Personal Finance (Not Investing) • Recharacterize trad IRA when income exceeds Deduction Limits

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Both DW and I have already contributed to traditional IRAs for the 2023 tax year. While filling out the tax form, I discovered that our income exceeded the deduction limit for traditional IRAs. Had I known that, we'd had rather contributed to the Roth IRAs. What are our options? Is it possible to withdraw the contributed amount from Trad and then move it to Roth?

Statistics: Posted by mjhfx1 — Thu Mar 07, 2024 9:40 pm — Replies 1 — Views 195



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