g**********r
发帖数: 372 | 1 Hi,
I made Roth conversion(from Traditional IRA to Roth IRA) in July 2011.
Now I find I need to pay a lot tax. If I recharacterize (Rollback or
unconvert)before April 15, 2012, Do I still need to pay tax for it? what is
the tax consequence?
Thanks so much!11
Bo | f*******n
发帖数: 12623 | 2 If you are converting a deductible Traditional IRA to Roth, of course you
need to pay tax on it, because a deductible Traditional IRA is pre-tax,
whereas a Roth IRA is post-tax. Yes, if you recharacterize to undo the
conversion, you don't have to pay tax. You will not be able to convert that
money to Roth again for 30 days.
If you are converting a non-deductible Traditional IRA to Roth, you only
have to pay tax on the earnings, so you shouldn't have to pay much tax. If
this is the case, you probably filled out the form wrong. | g**********r
发帖数: 372 | |
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