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Can I recharacterize a roll over from a terminated 401k plan into a Roth over to an IRA?

Forum|Forum|7 years ago
June 1, 2019
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Best answer by macuser_22

With the taxable amount in box 2a then that is indeed a 401(k) to Roth IRA conversion.

Unfortunately the 2018 Tax Cuts and Jobs Act eliminated the ability to reverse (recharacterize) Roth IRA conversions.

macuser_22

Employee

Was this a conversion from a 401(k), or a 401(k) Roth rollover? What code is in box 7 on the 1099-R?
What is in box 2a.
Anything in box 5?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

V

vidalrgAuthor

Box 7 - G, Box 2 a -17803.80, Box 5 is blank

macuser_22Answer

Employee

With the taxable amount in box 2a then that is indeed a 401(k) to Roth IRA conversion.

Unfortunately the 2018 Tax Cuts and Jobs Act eliminated the ability to reverse (recharacterize) Roth IRA conversions.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**