1998 Recharacterization Question/problem

[Guest Lee D]

In Feb of 1998 I converted a traditional nondeductable IRA valued at $7470 to a Roth thinking that's all that would be affected. I also had other IRAs (per-tax rollovers worth about $49,900) which apparently must be included in the 8606 calculations. This would result in a much larger tax hit than I expected. I filed a 4868 extension and must finalize (recharacterize the conversion ?) Any suggestions?

[Guest Lee D]

Forgot (no room) to include in the original question that the IRA basis (my after tax contribution to the converted IRA) was $6000. 1998 year end value was $9235 (from form 5498) and its current valuse is about $9880