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I opened a ROTH IRA last year ($2000) and added another $2000 this year. I'm about to change jobs which will put me beyond the AGI limitation, therefore no more contributions. Should I recharacterize to a traditional IRA? Also, I have about $80K in my current employer's 457 plan. Can I do a rollover into the IRA without tax consequences?
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<<I opened a ROTH IRA last year ($2000) and added another $2000 this year.>>

Congrats!!

<< I'm about to change jobs which will put me beyond the AGI limitation, therefore no more contributions. Should I recharacterize to a traditional IRA?>>

Why? You certainly don't have to. Your contributions were vaild in the year that you made them, so the worst that can happen is that they'll stay right there. You may not be able to add to them, but you also don't have to recharacterize them.

<< Also, I have about $80K in my current employer's 457 plan. Can I do a rollover into the IRA without tax consequences?>>

My brain is acting up this morning. Is a 457 plan a non-qualified deferred comp plan? If so, it's generally not qualified for rollover treatment. The best answers will really come from your plan administrator, so you might want to start there.

TMF Taxes
Roy
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