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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 by
1. Recharacterization
2. 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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