Please help, i am completely lost on this one even though it
is simple. I converted my traditional IRA (actually a direct roll-over acct) in June, 2000 to a Roth IRA, i then
recharacterized everything back to the traditional IRA in Dec, 2000. I then converted it back to Roth IRA in Feb, 2001
The stock fluctuated so much, the amount between conversion
is different even though the whole acct is converted.
I received 2 1099-R forms from the broker, one for traditional IRA acct marked early distribution exception applies, and the other for the ROTH
marked recharacterized IRA contribution.
1. I guess I don't have to worry about the conversion back
to roth IRA part done in 2001 for now, right?
2. I am having difficulty in filling out the form 8606, can someone please let me know how to do it? I guess I need to fill out part 2 and 3, even so, i can't figure out which numbers are necessary. For instance, it asked for basis,
i have no idea since this is a direct roll-over acct from
a mutual funds.
3. What about line 15a and 15b on form 1040??
Any pointers will be greatly appreciated!
Thank you in advance!