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My Google Analytics codes are implemented via Google Tag Manager. However, I'm trying to upgrade to Universal Analytics.

According to Google's guide on switching from Classic to Universal via Tag Manager, it says you have to create a new tag and rule, and delete the old ones (https://developers.google.com/analytics/devguides/collection/upgrade/reference/gtm).

However, when I'm in GTM, I seen an option to edit the Tag Type and switch it to Universal Analtyics. The question is: Can't I just switch the tag type to Universal, plug in the new ID, and it would function properly?

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The premise behind creating a new tag versus reusing the old one and just switching the tag type and updating the ID is that you may want to verify that your migration is successful. You can't compare old data with new data if you deprecate the old tags, so in order to make sure that your migration is successful, you would need to duplicate your GA tag, convert it to a UA tag, collect data through both tag types (GA and UA), and then compare the data and make sure that they are roughly equivalent (it may not be exact). Once you are satisfied with the results with the new tags, you can then delete the old ones.

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Go ahead and edit the tag type to Universal Analytics. Once you save, the new tag will fire the UA type, and you shouldn't experience any loss in data.

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