No. of Recommendations: 4
I suggest you consult a tax professional - there are a fair number of rules - like limits on total contributions and very specific procedures if you decide to undo a contribution.

The OP was asking about conversions, not contributions. There are no limits on conversions, other than ensuring that you are able to pay the taxes that are owed due to the conversion.

And you can no longer reverse (aka recharacterize) a conversion, like can be done with contributions.

That said, I don't really think it's necessary to consult a tax professional.

AJ
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.