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Author: ibonzi Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121585  
Subject: Re: PANIC if you must recharacterize a Roth IRA Date: 3/27/2000 11:54 PM
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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?
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