In 1998 I converted a traditional IRA to a Roth. I met all the conversion requirements, no problem. My broker rolled over the assets into new Roth account.
When my tax preparer did my 1998 return, he didnt report the conversion, nor did he put the 1/4 spread to get taxed.
To complicate, I did my 1999 return and didnt report any income from the rollover.

Can I amend my 1998 return to elect the Roth conversion, and take the 4 year spread?

Also, my brokerage account has a Roth IRA in the title, what should I do? Roll it back to a traditional account if I cant amend.

Any assistance will be appreciated.


[This message has been edited by mrg (edited 05-03-2000).]

The roth IRA is fine, it's the tax returns that are wrong. Amend them. Since the 4 year spread is the default, that's the way to report the income.



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Barry Picker, CPA/PFS, CFP
New York, NY
www.BPickerCPA.com