The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/vanguard-says-i-must-obtain-a-recharacterization-30871212.aspx

Subject:  Re: Roth IRA Recharacterization Date:  9/15/2013  8:44 AM
Author:  TMFPMarti Number:  119143 of 121175

Vanguard says I must obtain a recharacterization from Schwab for the period the Roth funds were at Schwab, which is understandable. But the folks at Schwab promise action and do nothing.
...
Is there any legal or IRS requirement that the recharacterization information must come from Schwab? What I am considering is I collect the data for the period the funds were held at Schwab and fill out the Vanguard forms.


Ultimately the responsibility falls on you. There is no requirement that you have a third-party calculation of the recharacterization. It seems to me that there's only one number you need from Schwab--the value of the Roth account before the conversion. The confirmation of the conversion should have that, or what you need to back into it.

What am I missing?

Phil
Rule Your Retirement Home Fool
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us