2018 Deductible IRA contribution

I made a $6,500 prior year contribution to my deductible IRA on 4/8/19. So this was a contribution for CY 2018 made on 4/8/19.

I extended my 2018 tax return to 10/15/19.

I also maxed out my 401(k) salary deferral for 2018 – so I was “covered by a qualified plan” in 2018.

I file Single.
Turns out, I made too much in 2018 and cannot deduct any of the $6,500 I contributed (i.e. My 2018 MAGI was greater than $73,000.)

So I now want to distribute the $6,500 + earnings from my deductible IRA and use it to contribute to my Roth IRA for 2018 – if possible.

I’ll use the $6,500 for a 2018 Roth IRA contribution and the earning towards my 2019 Roth IRA contribution – if possible.

I recognize I need to get this done in a hurry. Today is 10/8/19 and I need to get this done by 10/15/19.

I’m just checking to make sure that it is OK for me to do this or am I not allowed to make the 2018 Roth IRA contribution at this late date?

Am I forced to withdraw the $6,500 from the deductible IRA and use it for a 2019 Roth IRA contribution?

Maybe I should just ask, “So what do I do now?”



  • If your IRA custodian can still process a recharacterization by 10/15, this is what you should do. The TIRA contribution will then be treated as if it was a Roth contribution all along. Any earnings on the contribution will be treated as Roth earnings. Be sure your MAGI for 2018 allows you to make a regular Roth contribution. Meeting the 10/15 recharacterization deadline depends on how your custodian processes recharacterizations. A phone call is obviously faster as a mailed in form might be too late.
  • Conversely, if you have the TIRA contribution returned to you with earnings, you can use the money to subsidize a 2019 Roth contribution, but that will leave you with no IRA contribution of any type for 2018. You will also owe tax and penalty (if under 59.5) on the earnings on your 2019 return because you made the contribution in 2019.


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