Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 2
The brokerage has sent us a form 5498 for the recharacterization in 2012.

In 2012, we contributed heavily to our employer sponsored retirement plans, and our MAGI ended up being low enough to contribute the max allowed to our Roth IRA accounts.

My question is: Can we contribute to the Roth IRA for the year 2012?

I'll address only the recharacterization, which I think is your concern. Even though it happened in 2012 it was a tax year 2011 transaction. It has no effect on your ability to make tax year 2012 contributions.

See Pub 590.

Rule Your Retirement Home Fool
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.