Ive got $5000 i need to move from a Roth IRA to a traditional IRA for 2016. Is it as simple as figuring out what stock i spent it on and move it? Or move a % of the total? The form i have to fill out (scottrade) is as clear as mud.

I really thought this was going to be a thread on Irish...

You disappointed me

This

When I've had to do it, all I did was fill out a form, and sent it to the company that holds the Roth IRA.

For me it was Fidelity. I filled in the amount contributed, for what year. They then took the money invested, figured out any loss/gain associated with that investment and moved the correct amount out of the Roth IRA to the traditional IRA.

Finding the form online was was faster/easier than calling them b/c they are swamped this time of year.

Why would you do this?

A Roth IRA has after tax dollars invested in it. You get your paycheck, taxes are taken out and you contribute to a Roth. The advantage is at retirement the money comes out tax free.

A traditional ira the contributions are tax deductible. When you file your taxes you are able to deduct the amount you contributed from your income for a tax savings. The money is however taxed at retirement when you pull it out.

So if you have money in a Roth you paid taxes on it already. If you transfer it to a traditional you will pay taxes on it again when you take it out.

Because the govt tells me in not allowed to contribute to a Roth in 2016, but i already did...

Got it. I am in the same boat. Go down to scotttrade if you have a local office if not call them and explain the situation. We have local office here and they are quite helpful.

If you are doing a traditional and it is not deductible due to income make sure you file the IRS form 8606. We do this every year. It allows you to take out your initial contributions tax free at retirement since you already paid tax on them.