BenefitsLink Message Boards > Recharacterize 2000 Roth IRA Conversion with 1999 Roth Contribution As

Full Version: Recharacterize 2000 Roth IRA Conversion with 1999 Roth Contribution As

BenefitsLink Message Boards > Retirement Plans > IRAs and Roth IRAs

pkeyser

Mar 7 2001, 02:40 PM

I have a Roth IRA Conversion account set up in March 2000 to which I also added a $2000 Roth IRA contribution for the 1999 tax year (also in March). I would like to recharacterize/convert this back to an traditional IRA.

I believe I can recharacterize the 2000 conversion amount but not the 1999 contribution amount. Is this correct? Is it "simply" a matter of finding out the correct amount to recharacterize and the amount to be left in the Roth account? Thanks much to any advice you can give.

BPickerCPA

Mar 8 2001, 08:25 AM

Yes, it's simply a matter of finding out the amount to recharacterize and the amount to leave in the Roth.

Unfortunately, the computation itself may not be so simple.

This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.