Beware the Impact on RMDs When Reversing a Roth IRA Conversion

The amount of money that you recharacterize needs to be added back to your traditional IRA balance for year-end 2016 to calculate your 2017 required minimum distribution.

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Question: I’m 73 years old, and I converted money in a traditional IRA to a Roth IRA in 2016. I know that I have until October 16 to undo the conversion and get back the money I paid in taxes. Will recharacterizing the IRA affect my required minimum distribution for 2017?

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Kimberly Lankford
Contributing Editor, Kiplinger's Personal Finance

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.