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Reply to "Roth IRA- options if 2013 AGI is above limits "
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[quote=Anonymous][quote=Anonymous]You can re-characterize your Roth contribution (and any earnings) as traditional IRA before April 15. Once you know for sure you are not eligible just call your financial institution and the should be able to do this over the phone. I don't think there should be any tax implications. If it were the other way around (traditional to Roth) then there would be. Note also, you cannot deduct the contributions on your taxes - this will end up as a non-deductible traditional IRA.[/quote] PP here -- and one more thing that you can do (if you are up for a few more steps) is the Backdoor Roth. That way the money winds back up in your Roth and continues to grow tax-free. You would have to consider first though whether you have any other traditional IRAs that you funded with pre-tax money (deductible IRAs). http://www.bogleheads.org/wiki/Backdoor_Roth_IRA[/quote]
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