wadhwa
New Member

In Y2017, how do we implement IRS notice 2014-54 to re-characterize to a ROTH IRA an After Tax Distribution that was made in Y2010 from a 401K to a Traditional IRA?

Originally in Y2009, After Tax Distribution was rolled to a ROTH IRA, but in Y2010 it was recharacterized to a Traditional IRA as IRS rules did not allow it then. Following IRS Notice 2014-54, one can revert it back to ROTH IRA. Question is how to do it in Y2017? What Distribution Code should be on the 1099R so that the rollover is not taxed?