My wife and I purchased a Roth Ira from Bank of america Investment 4-9-99 for the year 1999. for 2k each. We later found out in December 1999 they had purchased Traditional Ira's rather than Roth's. After a heated discussion we completed the apps to open Roth Ira's on 12/29/1999.We assumed everthing was fine until later we dscover they did not purchase the Roth Ira's until 4-14-2000! now we get 1099r's for year 2000.I contacted thhem again and they apologzed they could correct by1. Recharacterization2. Leave in tact Roth's and we pay taxes!I don't understand how they can avoid purchasing a Roth's at the time of application. Sounds like to have avoided broker rules and ethics.Any, I need to know what is the best way to go 1. or 2.Thanks so much
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