The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: HELP! Excess Contributions Date:  2/25/2002  5:12 PM
Author:  OneLostFool Number:  33882 of 78166

Wow. I really appreciate all of the help you're all giving. At the risk of sounding like the complete amateur that I am with IRA's, here's the total situation.

I'm overseas, and using a 2555 (Foreign Earned Income Exclusion) which covers (sadly) all of my income for 2001. Since I'll be returning stateside this year, I won't be able to claim the exclusion for 2002 and will have to pay federal taxes, so I believe that I will qualify for the Roth contributions for 2002.

Here's the new questions your answers have planted in my bargled mind:

If I recharacterize to a traditional, will I later be able to change it back to a Roth or is it then set as a t