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<< I made a $2000 contribution to my first Roth account, now having done my taxes, come to find out that I do not qualified to have a Roth. Is there a way out of this one? Btw, I purchased Fed. Exp stock with the account. >>

I'll amplify a little on Pixy's response.

Regardless of what you do, you're going to need Form 8606 and its separate instructions. If you decide to recharacterize, which is my recommendation, you actually have until 10/16/2000 to accomplish this for a 1999 contribution, but why wait?

Phil Marti
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