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Gold/Mining/Energy : Global Platinum & Gold (GPGI) -- Ignore unavailable to you. Want to Upgrade?

To: Scott Wheeler who wrote (9641)	3/8/1999 4:42:00 PM
From: Scott Wheeler	Respond to of 14226

*SOT* (somewhat off topic) For anyone who might have placed a load of Global or other securities into their Roth conversion account, only to have the value decrease significantly - listen up. You can save a bundle in tax you would have been assessed - if you recharacterize your Roth conversion. In essence you are voiding the conversion and starting over from scratch. The securities are moved back to the original conventional IRA, and then the assets are turned right around again back to the Roth conversion, but this time your taxable distribution is lower, based on the value of the securities on the new conversion date (back to the original IRA). You're saying to the IRS - "Hey, let's start this whole Roth thing over again, so I get the lower tax, following the decline in my equity." I am saving over $4500 for 1998 taxes using this completely legal maneuver! However, you are only allowed one recharacterization per (calendar?) year. Hurry, you only have until 4/15 do get it in for the 1998 tax year. SW