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URL:  http://boards.fool.com/roth-recharacterization-10753983.aspx

Subject:  Roth Recharacterization Date:  4/10/1999  12:08 AM
Author:  HardlyRich Number:  14240 of 121223

In 1998 I opened a Roth IRA and contributed $2000.00 to it. I contributed another $2000.00 in 1999. Now I realize that I exceed the AGI limit, so I have Recharacterized the entire balance to a regular IRA. This just happened on April 1, 1999.

The question is, how do I handle this on my 1998 tax forms. Don't I need a 1099 for the recharacterization? Should I be expecting a 1099 from my broker before April 15th? Time is running out, and I'd hate to have to pay the penalty.

How do I report this on my tax forms?

-HardlyRich
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