In March, 2008, I converted two IRAs and a Rollover IRA to Roth IRAs in custodian to custodian transfers. Tax was withheld from the conversions which were both stocks and cash. Nothing has been withdrawn from the Roths and I am not required to draw down my IRAs for 6 more years. I wish to recharacterize them back to their original status. How do I supplement the cash that was used for withholding and provided to the IRS? I (assuming I recharacterize) do owe any additional taxes this year. I live entirely off of retirement income and social security income so I cannot make any contributions. Any help I can obtain would be beneficial as the last, and only, answer I received from the custodian is that I cannot do a full recharacterization as the $$ sent to the IRS cannot be replaced by other money although I have sufficient funds to do so.
- posted
15 years ago