I recharacterized my Roth IRA back to a traditional IRA in 12/99 and then converted the same IRA to a Roth IRA in 1/00. I did this for the tax benefit. Can I now do the same thing again and recharacterized my Roth IRA to a traditional IRA and then again back to a Roth in January of 2001? I did read that you cannot do both in one year and that there must be thirty days between the transactions.

You can do it as long as you wait more than 30 days after the recharacterization. You can no longer convert the same funds twice in the same year, in any event.