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[[I converted some IRA to Roth in 12/98. Now, I found I can't because of the
$100K MAGI limit; and have to recharacterize it back to IRA.]]


[[ Do I have to wait for the 1099R for the recharacterization before I file my tax
return? ]]

No...but you will really want the 1099R for the original conversion. You'll have to report that information on Form 8606. But the 1099 for the recharacterization has no real meaning to you for tax year 1998.

[[If no, will I be getting a routine letter from IRS saying that my numbers
don't jive with the 1099Rs ??]]

No...because you'll complete Form 8606 to make the numbers match with the information that Uncle Sammy has on the original conversion.

You can read more about conversions in the Taxes FAQ area.

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