Looks like my AGI in '14 was over the Roth limits but I had already funded a Roth with Lending Club, poking around the web it looks like I can 'recharacterize' the contributions (and profit) to a traditional IRA and it is IRS neutral. Has anyone done this with LC, did you have to sell off a bunch of loans to transfer cash or could you move loans directly?
My other option would be to remove the contribution (and profit) from the IRA and pay income tax on the profit; I think I am happy keeping it in a traditional IRA and skipping the tax, any opinions on this?
