1099-R: 401k or 403b rolled over into in-plan Roth, no option to recharacterize to traditional IRA
Updated: 12/28/2012
Article ID: SLN46585
If you rolled over a 401k or 403b into a in-plan Roth, TurboTax provides no option to recharacterized part or all of it into a traditional IRA.
Clarification
We have determined that TurboTax is handling these in-plan Roth Rollovers correctly.
An in-plan rollover from a 401k or 403b to a Roth cannot be recharacterized according to the IRS instructions. Publication 575 on page 29 says that "in-plan Roth rollovers cannot be undone. Unlike Rollover to Roth IRAs, you cannot later recharacterize an in-plan Roth rollover".
When you signed up for the In-plan Roth rollover, your plan should have provided a written explanation of the consequences of making the in-plan Roth Rollover.
