Did you accidentally make an IRA or Roth IRA contribution that you’re now regretting? Luckily, you’ve got options! A recharacterization, in the simplest of terms, is an “undo” that allows you to treat an IRA contribution as if it were a Roth contribution, and vice versa.
However, to execute a recharacterization correctly, you must ensure you meet the right deadline, understand your custodian’s policies, and more.
Have more questions about your retirement accounts? Contact our office at (425) 252-4032 to schedule a time for an appointment.