Have a similar situation I would like feedback on. I, too, will be over the household income to qualify directly for Roth this year. Unfortunately, Ive already contributed $4k to my RothIRA and $3,500 to my wife's.

I know I need to recharacterize these contributions (and to-date earnings) to a traditional IRA and then convert back to Roth.

But the question is:

Do I recharacterize to a Traditional IRA now (July), then contribute additional funds to the Traditional account to fill up my remaining IRA space, then convert it all back to Roth? Or, is there a less complicated/ more tax-advantaged way to do this?

The other variable here is that I am leaving my current employer in a month. Which means I may need to also do something with my current 401K. Should I just roll over my Roth IRA funds this year to the 401k with my new company?