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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (48299)12/15/2000 3:26:43 PM
From: Don Lloyd  Read Replies (1) of 436258
 
hb -

very good. say Don, i assume you have looked into ECO? you seeing value there?

I asked you first. -g-

Actually, it's a way to try to pull useless tax-deferred cash out of my IRA.

1. Buy extremely speculative penny stocks in my traditional IRA.

2. If they go up, sell part.

3. If they go down, convert them into a tax-free Roth IRA without selling them, temporarily creating a taxable event on the conversion value.

4. If they go down further, re-characterize them back to the traditional IRA near the end of the year, cancelling the tax.

5. After 30(or 60?) days into the new year re-convert them into the Roth for a lower tax hit a year later. Sell or hold as desired.

So far my Roth has been been in the $30K - $50K range resulting from only about $6K worth of taxable conversions.

Regards, Don
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