MTEI - Mountain Energy - No BASHING Allowed Message Board

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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed

MTEI 0.00400

-14.9%

Nov 18 9:31 AM EST

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To: Donster who wrote (10862)	10/29/1998 5:01:00 PM
From: SCOOBEY-DO	Read Replies (1) of 11684

Donster, Did you convert your IRA to a Roth IRA? The Wallstreet Journal had an article regarding the recharacterization of the Roth back to a traditional IRA. I was worried about recharacterizing back to a traditional because I called the IRS and they said that it could not be done unless you made over $125,000 in regular income and should not have transfered the money to a Roth in the first place. The Wallstreet says that you can recharacterize one time in 1998 and once time again in 1999. You might want to look into the possibility. At least that way you would not have to pay FIT on the investment that you transfered to a Roth IRA and lost. Scoobey

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