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nothlit t1_iy8mfqi wrote

If you are below the Roth IRA income limit (~$129k) you can ask your IRA provider to recharacterize the contribution as Roth instead of traditional. This is a like a do-over and makes it like the contribution was Roth all along.

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grinch1225 t1_iy8wkq3 wrote

Roth is $144k limit currently, with projections for increase in 2023.

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nothlit t1_iy8x5gr wrote

That's the very top end of the phase-out range. $129k is the bottom end, where your ability to contribute starts to become limited.

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grinch1225 t1_iy8x7ut wrote

Absolutely, sorry for misinterpreting what you were saying!

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