Recharacterization of this year's contribution

[Guest ken roberts]

In April of this year i tossed $2K into my Roth IRA (one account) for 1999. This money sat for a couple months waiting on a limit order (missed by 1/16...stock was 3 5/16, now at 10...d'oh). I then used $1850 of this to buy a stock which is worth around $900.

Is there any way i can recharacterize this year's contribution as a traditional IRA, and then roll it over into a Roth thereby getting a tax deduction of ~$950 on my investment ineptitude?

If so, how would i figure out the interest earnings on this year's contribution, keeping in mind that my previous IRA contributions are in the same account as my '99 contribution?