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To: Charlie who wrote (3769)10/27/1998 6:49:00 PM
From: Brendan W  Respond to of 4969
 
The conversion can be redone... the IRS recently issued some sort of ruling. Contact your broker for instructions because they vary by firm.

You wrote:
>>>>>>>
Steve, I have a question about Roth IRA's. Recently received a newsletter from
Southwest and they said that new amendments allow conversions to be reversed.
Can you elaborate? Reason I am asking is that I converted a regular Ira to a Roth
IRA earlier this year. They account is down significantly from the time of the
conversion. I will be taxed on the amount I converted which is almost as much as
the account is now worth. If I could reverse the conversion it would be to my
benefit to do so. How do I proceed?



To: Charlie who wrote (3769)10/29/1998 4:31:00 PM
From: steve goldman  Respond to of 4969
 
Charlie,
I know an awful lot about Roth IRAs, but they are case specific. Also, they change the rules alot. Somewhat sheepishly, I'm ducking your question and suggesting you speak to an accountant or your broker. There's a lot that goes into it and I'd hate to miss something. Its definately not my expertise, if anyone at all couldbe such an expert.
regards,
Steve


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