DanaB27
Expert Alumni

Get your taxes done using TurboTax

Yes, when you moved the pre-tax money from the 401k to the Roth IRA (an after-tax account) then this was a conversion. It seems as if you entered it correctly since you paid taxes on the conversion.

 

A rollover is when you move money from per-tax account to another pre-tax account (for example 401k to traditional IRA) or from an after-tax to another after-tax account ( for example Roth 401k to a Roth IRA).

 

A recharacterization of a contribution allows you to treat a regular contribution made to a Roth IRA or to a traditional IRA as having been made to the other type of IRA. For example, if you made a contribution to a Roth IRA but then change your mind  before the due date then you can tell your bank that you want this to be a traditional IRA contribution instead of a Roth contribution.

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