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I'm receiving all sorts of differing advice and thought I'd pose this to the experts on this board.

1) My wife and I contributed 4k each to our roth as a 2007 characterization.
2) Our MAGI is too high to be eligible to contribute to the Roth
3) My personal tax adviser says that I can't recharacterize to my traditional IRA because my income is too high and my wife and I have a pension program (i.e. these boxes are checked on the W-2's). He says the traditional limit is 103,000.
4) When I spoke to Ameritrade, they knew of no reason I couldn't recharacterize my roth contribution as a traditional ira contribution unless my current 401K precluded this.
5) I spoke to my 401K administrator, and they knew of nothing on their end that would preclude me from contributing to a traditional ira.

I wanted to verify with people here that I'm getting good advice in that I am unable to make a 2007 contribution to either a Roth or traditional IRA. If that's true, then my next best option is to recharacterize it as a 2008 contribution, correct?

I really appreciate any feedback you can give me. I know everyone is busy this time of year.

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