Roth IRA conversion and recharacterization, how to report it?

[Guest Stuck]

Please help, i am completely lost on this one even though it

is simple. I converted my traditional IRA (actually a direct roll-over acct) in June, 2000 to a Roth IRA, i then

recharacterized everything back to the traditional IRA in Dec, 2000. I then converted it back to Roth IRA in Feb, 2001

The stock fluctuated so much, the amount between conversion

is different even though the whole acct is converted.

I received 2 1099-R forms from the broker, one for traditional IRA acct marked early distribution exception applies, and the other for the ROTH

marked recharacterized IRA contribution.

1. I guess I don't have to worry about the conversion back

to roth IRA part done in 2001 for now, right?

2. I am having difficulty in filling out the form 8606, can someone please let me know how to do it? I guess I need to fill out part 2 and 3, even so, i can't figure out which numbers are necessary. For instance, it asked for basis,

i have no idea since this is a direct roll-over acct from

a mutual funds.

3. What about line 15a and 15b on form 1040??

Any pointers will be greatly appreciated!

Thank you in advance!

[Guest Shelton]

Ask Barry Picker via e-mail or call him. ( he responds to many issues on this cite

he is a CPA of good repute- of course- fees may apply