Recharacterize? If after converting can I revalue my portfolio for ta

[Guest brbrick]

Say I convert at the end of 1998, when the market finishes on a relatively high note, can I recharacterize (or revalue) my portfolio (for tax purposes) if the market goes down (spring '99) and I make no changes to my portfolio mix during that time....or can you only recharacterize if you are beyond AGI limits or some other qualifying factor?

[BPickerCPA]

You can recharacterize for any reason you choose. But recharacterization only gets the money back into a traditional IRA. To get it back into the Roth, you must then reconvert it, at the then current value. At this point, it now becomes a 1999 conversion, and you lose the 4 year spread.

[Guest brbrick]

Thanks for the reply. Been tough to figure out all of the rules/numbers. I should probably let it ride for 30 or so years. Thx again.