Converting a traditional IRA to a Roth IRA can provide tax-free growth and tax-free withdrawals in retirement. But conversions are subject to income tax. Before the TCJA, if you discovered a conversion would be too costly tax-wise, you could undo it using a “recharacterization” and avoid the tax hit. Effective with 2018 conversions, the TCJA prohibits recharacterizations. If, however, you converted to a Roth IRA in 2017, you have until Oct. 15, 2018, to undo it. We can help you assess whether to recharacterize a 2017 conversion or execute a 2018 conversion.