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Author: twputnam One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 122084  
Subject: Re: Roth IRA recharacterization Date: 2/19/2003 11:52 PM
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Thanks for your reply, but, I still have questions. I downloaded the instructions for Form 8686 as you suggested. The first bullet under Who Must File on page 1 does not apply to me since I did not contribute to an IRA in 2002. The second bullet under Who Must File on page 1 says: "You received distributions from a traditional, SEP or SIMPLE IRA in 2002 (other than a rollover, conversion, recharacterization or return of certain contributions) and your basis in traditional IRAs is more than zero."

I received distributions from traditional IRAs with non-zero basis, BUT, the above statement says that I do not have to file the 8606 if the distribution was from a conversion, which mine was from traditional IRA to a Roth IRA.

The 3rd bullet says: "You converted an amount from a traditional, SEP, or simple IRA to a Roth IRA in 2002 (unless you recharacterized the entire conversion - see page 3) This is what I did! So, again it seems that I don't have to file Form 8606

Thanks again for your help.


I know that the explanation goes with the amounts on Line 16a as per the instructions.
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