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Author: buzman Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75701  
Subject: Roth Recharacterization Date: 3/2/2001 9:33 AM
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Our 2001 AGI may be within the income limits of a Roth Ira.

If we make traditional IRA contributions now, can't we recharacterize those contributions pursuant to regulations in IRS Publication 590 p. 42?

The recharacterization example cited in the publication does not specifically address this issue.

buzman
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 28228 of 75701
Subject: Re: Roth Recharacterization Date: 3/2/2001 10:49 AM
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Buzman asked:

Our 2001 AGI may be within the income limits of a Roth Ira.

If we make traditional IRA contributions now, can't we recharacterize those contributions pursuant to regulations in IRS Publication 590 p. 42?


Yes, you may do that. A recharacterization may flow from a Roth to a traditional or vice versa. That's hinted at -- but not specifically stated -- on page 41 where they talk about treating "... a contribution made to one type of IRA as having been made to a different type of IRA." Who knows if that vagueness was deliberate or not. :-)

Regards..Pixy

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Author: buzman Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 28231 of 75701
Subject: Re: Roth Recharacterization Date: 3/2/2001 5:40 PM
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Thanks Pixy

I downloaded only pp. 42 & 43. I will check on this.

FWIW, my wife, the accountant, is so impressed when I can point out arcane minutiae from our tax code.

Thanks again

buzman-who walked on the beach today in shorts-Is it bad weather in the NE <grin>?

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