A reconversion is a second conversion (following a recharacterization) from a non-Roth IRA to a Roth IRA. In a reconversion, the taxpayer has already made a first conversion from a non-Roth to a Roth IRA and then recharacterized the conversion amount (including net earnings) back to a non-Roth IRA. You may not convert, recharacterize and then reconvert in the same tax year. 1099-R reporting is required for the distribution from the non-Roth IRA and Form 5498 for the contribution to the Roth IRA. Refer to IRS Publication 590 and consult your tax advisor about your individual tax situation.

IRS Circular 230 Notice: The information contained in this FAQ is provided for information purposes only, is not intended to constitute tax advice which may be relied upon to avoid penalties under any federal, state, local or other tax statutes or regulations and does not resolve any tax issues in your favor. Refer to IRS Publication 590, Individual Retirement Accounts for additional information on IRAs in general and consult your tax advisor about your individual tax situation.