dmertz
Level 15

Retirement tax questions

What code is present?  A rollover to a Roth IRA from a traditional IRA (a Roth conversion) would normally have code 2 or 7 but could also have code 1.

 

If the code is N or R, the transaction performed was a recharacterization of your traditional IRA contribution to make it a Roth IRA contribution instead, not a rollover.