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It is only "excess" becasue of the phase-out, so is there some reason it (the amount that is excessive vis-a-vis Roth IRA and 150k to 160k AGI) could not be recharacterized as a regular IRA contribution, although perhaps not deductible? If I understand the rules WRT recharacterization, then income earned on the investment would still be within the IRA and not need to be recognized for 1999 or 2000.

Just a thought. Regards, JAFO
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