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I contributed $2000 to my Roth at the beginning of 2000, but it is now looking like I might have more adjusted gross income than I expected, which would such a contribution not permitted. I understand from IRS 590 that I might be able to recharacterize the contribution to a regular IRA (non-deductible), as long as I also transfer any net income associated with that contribution.

I have a few questions:

*Can I recharaterize only a portion of the $2000 contribution (and a pro rated share of the net income), or do I have to recharaterize the entire amount?

*Would it be better to apply the excess contribution to a later year (as mentioned on page 38 of IRS 590).

*How much of a pain is this with the trustee (I use Schwab)?

Any advice on this would be appreciated.
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