What if my income ends up exceeding the $100,000 limit to be eligible to convert my traditional IRA to a Roth IRA, and I have already converted to a Roth IRA?
You may “reverse” the conversion by “recharacterizing” your Roth IRA to a traditional IRA. The Roth Conversion IRA (all contributions and income generated from the account) must be transferred to a traditional IRA before the due date of the individual’s tax return for that year, including extensions. The transfer must be a trustee-to-trustee transfer, not a rollover.
