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Retirement tax questions
Hi dmertz, Notice 2014-54 transition rules towards the end of the notice indicate that the notice applies to distributions prior to the notice date. In Y2009 entire pretax and entire after tax amounts in my 401k were rolled over with pretax amount going to a traditional IRA and after tax amount going to a Roth IRA. As entire amountil was rolled over, it was done in a proportional pretax to after tax manner. In Y2010 Fidelity recharacterized the after tax amount from Roth to Traditional citing IRS rules. Notice 2014-54 transition rules should allow a recharacterization of the after tax amounts back to the Roth IRA. Question is how to accomplish this in Y2017 using 1099R, Form 5498, and using Turbotax? Thanks
‎June 6, 2019
3:38 AM