ps99472
New member
Good article on yahoo finance
http://finance.yahoo.com/focus-retirement/article/113462/invest-roth-ira-reuters;_ylt=AmhsbRM8bkeXqNVO7xuX6_K7YWsA;_ylu=X3oDMTE1OHNqNXVjBHBvcwMzBHNlYwNmaWRlbGl0eUZQBHNsawN0YWtlYWR2YW50YWc-?mod=fidelity-buildingwealth&cat=fidelity_2010_building_wealth
So we're thinking of a re-do on our Roth IRA conversion... We lost about $4000 since the conversion and this would save us the ~$800 tax bill on the money that went poof. So basically cancel and then re-characterize at the lower amount. You got till Oct 17 to do this, maybe hold off till the last week? Hopefully the economy will rebound by then?
http://finance.yahoo.com/focus-retirement/article/113462/invest-roth-ira-reuters;_ylt=AmhsbRM8bkeXqNVO7xuX6_K7YWsA;_ylu=X3oDMTE1OHNqNXVjBHBvcwMzBHNlYwNmaWRlbGl0eUZQBHNsawN0YWtlYWR2YW50YWc-?mod=fidelity-buildingwealth&cat=fidelity_2010_building_wealth
So we're thinking of a re-do on our Roth IRA conversion... We lost about $4000 since the conversion and this would save us the ~$800 tax bill on the money that went poof. So basically cancel and then re-characterize at the lower amount. You got till Oct 17 to do this, maybe hold off till the last week? Hopefully the economy will rebound by then?