Is this even possible ? Roth IRA to tIRA (not recharactarization)

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elderwise
Posts: 70
Joined: Fri Jul 22, 2016 10:27 am

Is this even possible ? Roth IRA to tIRA (not recharactarization)

Post by elderwise » Thu Sep 13, 2018 3:19 pm

I have a unique hypothetical scenario where I would prefer my $$ to be in tIRA instead of Roth, ill explain that in a bit.Is this even possible? and no I am not talking about recharacterization, and this is not due to excess Roth contribution.Say if I have 60K in Roth, can it be somehow rolled or converted into tIRA?

My hypothetical case involves in US citizen moving to a EU country with a wealth tax that does not recognize Roth as traditional retirement account, unlike a 401k. And only recognizes tIRA as covered (against taxes etc).

FactualFran
Posts: 709
Joined: Sat Feb 21, 2015 2:29 pm

Re: Is this even possible ? Roth IRA to tIRA (not recharactarization)

Post by FactualFran » Thu Sep 13, 2018 3:57 pm

According to the Rollover Chart document by the IRS, a rollover from a Roth IRA to a Traditional IRA is not allowed.

kaneohe
Posts: 4947
Joined: Mon Sep 22, 2008 12:38 pm

Re: Is this even possible ? Roth IRA to tIRA (not recharactarization)

Post by kaneohe » Thu Sep 13, 2018 4:43 pm

Even if you could do this (which you can't) , have you thought about the end result after taxes? My impression is that the end result would be turning a Roth into a taxable account. In the US that still would be better than TIRA if you held low cost index funds because of LTCG taxation vs ordinary taxes for TIRA. If you were holding interest yielding accts there would be an edge to TIRA due to no current taxation. YMMV depending on the tax rules for country of interest.

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