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I have read that change in field type would result in data loss.

I have a custom field which is of type checkbox and has around 200 records. Now, I need to change this field data type to formula (Checkbox).

Will I need to upload data again or formula field will recalculate the value for checkbox?

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Formula fields are special read-only fields that cannot be converted to any other data type. Likewise, you cannot convert any other field type into a formula field.

This is from salesforce documentation. So you can not change checkbox to formula field.

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