Timeline for Contributed to a Roth IRA....But I'm Married Filing Separately
Current License: CC BY-SA 3.0
6 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Apr 4, 2016 at 2:46 | comment | added | Rob P. | The site I'm using (Fidelity.com) insists that none of my accounts are eligible for recharacterization. I'll probably have to call them. Thanks for all your help. | |
| Apr 4, 2016 at 2:43 | comment | added | littleadv | @RobP. well, recharacterization would do just that without the need of withdrawing and depositing again. However, non-deductible IRAs are inferior to any other retirement saving. If you wanted Roth IRA anyway, why not do the conversion? Not sure I understand your confusion here. | |
| Apr 4, 2016 at 2:41 | comment | added | Rob P. | I'm probably just wrong - I thought if I could empty the Roth IRA account and create a new IRA account, and contribute the same amount, I could avoid the needing the 8606 Form. | |
| Apr 4, 2016 at 2:39 | comment | added | littleadv | I thought your question was about how to keep the Roth contribution, no? You can withdraw under "excess contribution" rules, by the tax day, but then you loose the year for your retirement savings. | |
| Apr 4, 2016 at 2:35 | comment | added | Rob P. | So I can't just pull all the money out and pretend it never happened - I need to recharacetrize them? And I'm assuming this all needs to be done before I file taxes? | |
| Apr 4, 2016 at 2:26 | history | answered | littleadv | CC BY-SA 3.0 |