Recharacterizing a ROTH IRA if never traditional?

[Cuddles]

I'm trying to recharacterize a ROTH IRA to traditional that's never been a traditional IRA. Seems like the rules only apply if this was a converted account (traditional) and not a ROTH to begin with?

Anyone have any clue if it's possible to recharacterize an IRA that's always been a ROTH?

 

[algofy]

I'm trying to recharacterize a ROTH IRA to traditional that's never been a traditional IRA. Seems like the rules only apply if this was a converted account (traditional) and not a ROTH to begin with?

Anyone have any clue if it's possible to recharacterize an IRA that's always been a ROTH?

What is the contribution year?

 

[Robert Morse]

I'm trying to recharacterize a ROTH IRA to traditional that's never been a traditional IRA. Seems like the rules only apply if this was a converted account (traditional) and not a ROTH to begin with?

Anyone have any clue if it's possible to recharacterize an IRA that's always been a ROTH?

Please don't do that! Your Roth is better than a standard IRA because you have already paid your taxes on it. Why would you want to do that?

 

[java]

???Why would you want to do that?

 

[Robert Morse]

You can have both.

 

[piezoe]

I'm trying to recharacterize a ROTH IRA to traditional that's never been a traditional IRA. Seems like the rules only apply if this was a converted account (traditional) and not a ROTH to begin with?

Anyone have any clue if it's possible to recharacterize an IRA that's always been a ROTH?

Just curious, why on Earth would you want to do that???

 

[algofy]

He might be in a tax bind and wants the trad deduction to help out.

 

[java]

ah yes, already maxed out 2016 roth and now wishes he had gone reg, hmmm and has one day to do it

 

[algofy]

ah yes, already maxed out 2016 roth and now wishes he had gone reg, hmmm and has one day to do it

What it sounds like to me.

 

[java]

Seems like you should be able to if you are just talking 2016 and you are going to pay the taxes, same taxes you would have paid if only the IRS had a heart, a brain and less courage.