Categories: Life

26 WAYS THE GOP’S TAX REFORM WILL AFFECT YOUR WALLET

14. No More Roth Do-Overs

The new law will make it riskier to convert a traditional individual retirement account to a Roth. Under the old law, you could reverse such a conversion — and eliminate the tax bill — by “recharacterizing” the conversion by Oct. 15 of the following year. Starting in 2018, such do-overs are done for. Conversions will be irreversible.

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