In May $2023,$ Seth converts $$100,000$ in his traditional IRA to a Roth IRA. The value of the assets in the Roth IRA drops by $40$ percent due to a significant decline in the stock market that occurs in October $2023.$ The Roth conversion results in Seth incurring $$100,000$ of taxable income, when he could have waited and converted only $$60,000($after the $40$ percent drop$).$ Which of the following

statements is correct?

$$Seth cannot recharacterize the conversion.

$$Seth can recharacterize as long as it is done within six months from the date of the conversion.

$$Seth can recharacterize after December $31,2023.$

$$Seth can recharacterize at any time before the due date of his tax return, including extensions.