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Submitted By: James
Answered: January 15, 2016 11:58 am
Answered: January 15, 2016 11:58 am
The value of my Roth IRA from a conversion that I made earlier in 2015 declined so I recharacterized part of it as a traditional IRA in September. Is there any limit on the number of partial recharacterizations I can make?
No, you can do it more than one time. However, you must wait until the following year to make a Roth IRA conversion of the funds that had been recharacterized.
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Tax Glossary
Short tax year
A tax year of less than 12 months. May occur with the startup of a business or change in accounting method.
