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Here is another question. I opened a traditional IRA for tax year 1999 which I opened before April 15th, 2000. I later learned that a Roth would be best for me because I am young. I changed the traditional IRA to a Roth and was sent a 1099R form.

What do I do now? Do I claim what is on the form as income even thouth I never saw the money? I originally opened the IRA with $2000 when I changed to Roth it was valued at $2,112, now it is valued at $1700. Do I just claim my original $2000 as income, or what?

The answer depends on exactly what you did. Please provide dates and the specifics of your transactions, amounts and nature (contribution, recharacterization, conversion).

Phil Marti
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