Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: ibonzi Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 122527  
Subject: Re: PANIC if you must recharacterize a Roth IRA Date: 3/27/2000 11:54 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Many thanks for your ultra speedy reply to my query. It seems my broker had it right. While brooding over my misfortune, I have been reading all pertinent msgs and FAQS. The answers to my follow up queries, I am sure I have read already, but the news is so bad that I need to hear it from the horse's mouth (keyboard?). 1) The approx $3,500 rolled over from my pension was indicated as 0.00 taxable on the 1099R. But when converted from the IRA Rollover to the Roth, it became taxable? 2) As my income for 2000 will be less than $100,000, I would like to convert the $9,750 right back to the Roth. Will I have to pay tax on the $3,500 again? and on those ludicrously inflated "earnings" of $6,250 also?
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Kiddie Card Board
Should kids have their own credit card?
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

The Wealth of Power
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.