Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 1
Looks like I'll just recharacterize now & get it over with. I'm guessing my brokerage is "less busy" this time of year.

Unless you're absolutely, positively certain you want to recharacterize, I would wait until after you've prepared your taxes (or otherwise determined that you're over the limit for making deductible contributions). There's no pressing need to make that decision now. And, as Phil corrected me, you have until October 15 of next year to do the recharacterization.

The only busy time for brokers and their IRA departments should be April 15 and October 15. As long as you avoid the couple of weeks preceding those dates, their workload should not be an issue.

Then I'll boost my 401K contribution a bit more.

Boosting your 401k contributions will reduce your AGI and potentially make you eligible for deductible IRA contributions if you're right on the borderline.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
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.