I contributed $5.5k to traditional ira in Mar 2017 and requested recharacterization in Feb 2018. $5,716 was transferred to roth. Is this conversion or recharacterization?

[juy326]

I wanted 2017 contribution to be changed to Roth, and was going to contribute another $5.5k in 2018. But, I am confused if this $5,716 is mere reclassification of 2017 amount or this is considered as 2018 contribution. 

[Rachel_W]

This would be considered a Recharacterization of your 2017 IRA Contribution from Traditional to Roth.   A Recharacterization is basically a method for you to change your mind about the type of your current year IRA contribution.  This Recharacterization does not affect your ability to make your 2018 IRA Contribution so you can still go ahead and make your 2018 IRA Contribution. 

Check out this TurboTax FAQ for more details on the difference between Recharacterization and Conversion:

https://ttlc.intuit.com/replies/3300628