I transitioned from a Traditional IRA to a Roth IRA and am looking to switch back to a traditional IRA. Is this possible?
A Roth IRA conversion cannot be undone. The I.R.S. regards it as a payout from a traditional IRA prior to that money entering a Roth IRA, and the payout represents taxable income. That taxable income stemming from the conversion could have tax consequences in the year when the conversion occurs.