Rollover waiting period after recharacterization

[edbro]

What is the name of your state (only U.S. law)? TX

In 2014 I contributed to ROTH IRAs for both me and my wife. Now I realize that I was over the income limits so I recharacterized the ROTH contributions (plus earnings) into a traditional IRA. Do I need to wait any length of time before I rollover the monies back into my ROTH? I keep reading about a 30day/1 year time limit on conversions but I'm not sure if my situation is considered a conversion. I know I have to pay tax on the earnings but not the initial contributions as they are now non-deductible contributions. I'd appreciate any advice. Thank you

 

[FlyingRon]

No time limit as long as you are below the Roth contribution limits in the year you want to make the transfer and you pay the taxes. Once you do this however, the assets must remain in the Roth for five years