I recharacterized my 2007 Roth IRA contribution that I made in March 2007 to a traditional IRA as I need the deduction but my $4,000 contribution is now down to $3500. Does this mean I have to deposit another $500 to bring my balance back up to $4,000 or will the recharacterization move to the traditional as current value of $3500 with a basis of $4,000? Thanks in advance to all who respond.

Tristan