Timeline for Can an IRA recharacterization be unrecharacterized?
Current License: CC BY-SA 3.0
16 events
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| Apr 13, 2017 at 12:25 | history | edited | CommunityBot |
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| Mar 19, 2016 at 17:22 | history | tweeted | twitter.com/StackFinance/status/711241512965775360 | ||
| Mar 18, 2016 at 7:20 | answer | added | user102008 | timeline score: 1 | |
| Mar 17, 2016 at 0:00 | history | reopened |
user32479 user102008 JTP - Apologise to Monica♦ united-states Users with the united-states badge or a synonym can single-handedly close united-states questions as duplicates and reopen them as needed. |
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| Mar 17, 2016 at 0:00 | comment | added | JTP - Apologise to Monica♦ | @user102008 - I'm reopening, even thought my gut still says these overlap. No more comments regarding other question, just hoping this one will get the OP the straight answer he seeks. | |
| Mar 16, 2016 at 21:09 | comment | added | Joe | Either way, I would just talk to your custodian and see what they say. They should know what's possible to do; and more importantly, they should be able to tell you what forms they're going to give you as a result of your actions (both recharacterizations and conversions involve forms to the IRS). | |
| Mar 16, 2016 at 19:14 | history | edited | Phil Frost | CC BY-SA 3.0 |
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| Mar 16, 2016 at 18:38 | review | Reopen votes | |||
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| Mar 16, 2016 at 18:16 | history | edited | Phil Frost | CC BY-SA 3.0 |
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| Mar 16, 2016 at 18:04 | history | closed |
Joe JTP - Apologise to Monica♦ united-states Users with the united-states badge or a synonym can single-handedly close united-states questions as duplicates and reopen them as needed. |
Duplicate of How to file form 8606 when doing a recharacterization followed by conversion? | |
| Mar 16, 2016 at 17:47 | review | Close votes | |||
| Mar 16, 2016 at 18:08 | |||||
| Mar 16, 2016 at 17:26 | comment | added | Phil Frost | @Joe Very interesting...I wasn't aware of that rule. I guess that makes me feel a little less bad about my mistake. | |
| Mar 16, 2016 at 17:20 | history | edited | Phil Frost | CC BY-SA 3.0 |
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| Mar 16, 2016 at 17:19 | comment | added | Joe | You won't actually pay income taxes on it when you take it out - it'll count toward the 'basis' of the account, and so you'll only pay on the portion which is earned income above and beyond that basis. Unless you're at a higher income tax rate than the LT CG rate, that means you won't have any difference in taxes. | |
| Mar 16, 2016 at 17:15 | history | edited | Phil Frost | CC BY-SA 3.0 |
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| Mar 16, 2016 at 17:09 | history | asked | Phil Frost | CC BY-SA 3.0 |