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Started By
Message
re: ROTH Income Limits, Recharacterizing, Back Door
Posted on 4/20/15 at 4:13 pm to Teddy Ruxpin
Posted on 4/20/15 at 4:13 pm to Teddy Ruxpin
quote:
Last resort if required by unknown pitfall I could just keep the money aside until I'm sure one way or another so I can complete the backdoor ROTH in a less confusing manner.
This is my method now that I had to go through
quote:
contribute to a ROTH, then have to recharacterize, and then try to convert back to the ROTH to complete the backdoor
Not worth the headache...
1
Posted on 4/21/15 at 8:58 am to StinkBait72
quote:
Not worth the headache...
Recharacterize is easy and not a headache.
Client had American Funds in a traditional IRA and Roth IRA.
2 weeks ago they realize they made too much in 2014 for Roth contributions.
They fax American funds the form to recharacterize Roth to Tradional IRA 2 days before April 15th.
American funds recharacterizes it before the 15th. Everything is done.
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