We investigated the nature of event-related potential (ERP) effects in a handedness recognition task requiring mental rotation. Thirty subjects were tested with rotated and sometimes reflected alphanumeric characters while ERPs were recorded from 18 electrodes. On each trial, a cue provided valid information about the angular displacement of the following probe. This design allowed a distinction between three processing episodes: evaluation of the difficulty of the forthcoming task, preparation for the task, and the mental rotation task itself. The three episodes were accompanied by distinct ERP effects having distinct polarities, a different rank order of amplitudes for different probe orientations, and a different topography. These data confirm previous findings showing that mental rotation is accompanied by a parietal negativity. However, they also suggest that the rotation-related negativity found after tilted stimuli in standard mental rotation tasks is most likely overlapping with another, simultaneously triggered ERP effect functionally related to an evaluation of task difficulty.