tax fun

[asthran]

So, apparently I can recharacterize some of my IRA contributions from last year, amend my return, and get an additional $400 back from the IRS.... It would also result in an account maintainance fee of $10/year for the next few years, most like, and then I'd have to deal with having both a traditional IRA and a Roth... So, question is, do I want to go through the bother, or would I rather have all my money be tax free?

Comments

[asthran.livejournal.com]

erm... although, I guess if the hassle of the amended tax returns hadn't been there, and I could have just snapped my fingers and had everything done with little bother, I would have, since it would all have ended up as a Roth eventually anyway.

Although I should check and see if there's a five-year rule or something like that for conversions from Traditionals to Roths. Even if so, it still would have ended up as a Roth, it just might not have been until 2010.