The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/401k-gt-ira-gt-roth-gt-ira-18562469.aspx

Subject:  401(k) > IRA > Roth > IRA Date:  2/9/2003  3:46 PM
Author:  Crazylegs883 Number:  63669 of 126254

I ran a search to see if I could find an answer but couldn't get a read on my specific situation. Essentially, I was downsized last year and had my 401(k) rolled over to a Vanguard IRA (trustee to trustee). As I understand it, I have to report the amount on line 16 of the 1040 and that should be it for this step.

I took the further step of converting the IRA to a Roth toward the end of 2002. Then, for personal reasons, I decided to recharacterize it *back* to a traditional IRA in Feb, 2003. Thus, it becomes a 'wash'. I'm assuming I have to somehow account for these maneuverings on my 1040, but I'm not sure how to do that exactly, or if its even necessary.

As an aside, I know I have to wait 30 days before I can convert to a Roth again, should I decide to do so.

Thanks,
Mark
Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us