I maxed out my Roth IRA for last year and ended up making too much money to contribute anything to a Roth. I thought I needed to go back and have my broker retroactively recharacterize all of my contributions last from from my Roth to a Traditional IRA and then do the backdoor Roth. I thought I had until tax filing time to complete this but now Schwab is telling my since it's the new year, I can only do a backdoor for 2022 and they are advising me to hold off on this pending that new bill that might get passed banning it. Is this true? There is no way to fix my mistake for 2021 and recharacterize all those contributions to a traditional and then do a backdoor conversion?
Submitted January 03, 2022 at 09:07AM by Infinite_Depth6747 https://ift.tt/3sSTyQp
