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To: sea_biscuit who wrote (2327)	12/8/1997 7:41:00 AM
From: Boca_PETE	Read Replies (1) \| Respond to of 42834

Dipy: In the situation you described, I believe you would contact your trustee and advise them to change the designation of the account back to a regular IRA. If this were done prior to the trustee's filing with the IRS in the following year, I believe you'd be O.K. Otherwise, it's 20 years at Levenworth in solitary confinement with no chance of parole and no radio to listen to Moneytalk :-)) P

To: sea_biscuit who wrote (2327)	12/8/1997 8:14:00 AM
From: Boca_PETE	Respond to of 42834

Dipy: Some further thoughts for the situation you describe. To make best efforts to qualify for a ROTH-IRA, you may consider bunching deductible expenses into 1998. For example, December 97 payments for real estate taxes and mortgage interest might be deferred into early January 1998. January 1999 payments for similar expenses could be prepaid in December 1998. Another benefit of converting a regular IRA to a ROTH IRA during 1998 is that you get to pay the tax on the appreciation in your regular IRA over 4 years in installments. For other excellent ideas and tax code explanations, consider going to the Deloitte & Touche link below: dtonline.com P