What are the differences between and IRA conversion and rollover?
A rollover is a tax-free distribution from one retirement plan to another retirement plan. A conversion is a withdrawal from a traditional IRA and reinvesting it (within 60 days) in a Roth IRA. A recharacterization is treating a contribution made to one type of IRA as having been made to a different type of IRA. The 2nd transaction is treated like it was not made. All 3 transaction types must be reported even if they are not taxable.