About the Author: Robert E. Grace, JD, CLU, ChFC, RFC is an Investment Adviser Representative and Master Elite IRA Advisor. As Founder & President of Grace Tax Advisory Group, LLC. , he has helped thousands of clients prepare for retirement through his proprietary planning process. Grace is also a best-selling author and radio show host. Learn more about Bob.
If you’ve changed your mind about your 2017 Roth conversion for any reason, you can still “undo” it with a Roth recharacterization. You’ll need to move quickly, though,as the deadline for recharacterizing 2017 conversions is fast approaching.
Roth recharacterizations provide investors with a “do-over” option, which isn’t common in the tax world.
Before making any big decisions, it’s important to understand the specific rules you must follow,including guidelines on deadlines, transfers,and custodians, to execute a Roth recharacterization properly.
Avoid making critical mistakes and click here to download“Recharacterizing a Roth Conversion in 5 Easy Steps.”
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