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URL:  http://boards.fool.com/ltlt-hi-all-i-open-regular-ira-account-in-11936318.aspx

Subject:  Re: Roth IRA Conversion Date:  2/6/2000  1:51 AM
Author:  pmarti Number:  27422 of 121219

<< Hi, All I open Regular IRA account in 1997 and end of 1998 I converted to a ROTH IRA. When I was doing my 1998 year tax found out that I'm not eligible to that conversion, because my AGI (Adjusted Gross Income) was over 100K. So I had to deconvert my ROTH IRA into Regular IRA. So now my question is what I need to do. Do I need to report that? >>

Yes. You should have by now received a 1099-R for the recharacterization from Roth back to traditional. You'll report that on the 1040, line 15 and on Form 8606.

Phil Marti
Tax Preparer
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