diff --git a/library/core/src/ops/control_flow.rs b/library/core/src/ops/control_flow.rs
index 2f78ba8f28e29..ecaff053bd5c0 100644
--- a/library/core/src/ops/control_flow.rs
+++ b/library/core/src/ops/control_flow.rs
@@ -1,4 +1,5 @@
-use crate::ops::Try;
+use crate::convert;
+use crate::ops::{self, Try};
 
 /// Used to tell an operation whether it should exit early or go on as usual.
 ///
@@ -81,6 +82,35 @@ impl<B, C> Try for ControlFlow<B, C> {
     }
 }
 
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+impl<B, C> ops::TryV2 for ControlFlow<B, C> {
+    type Output = C;
+    type Residual = ControlFlow<B, convert::Infallible>;
+
+    #[inline]
+    fn from_output(output: Self::Output) -> Self {
+        ControlFlow::Continue(output)
+    }
+
+    #[inline]
+    fn branch(self) -> ControlFlow<Self::Residual, Self::Output> {
+        match self {
+            ControlFlow::Continue(c) => ControlFlow::Continue(c),
+            ControlFlow::Break(b) => ControlFlow::Break(ControlFlow::Break(b)),
+        }
+    }
+}
+
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+impl<B, C> ops::FromResidual for ControlFlow<B, C> {
+    #[inline]
+    fn from_residual(residual: ControlFlow<B, convert::Infallible>) -> Self {
+        match residual {
+            ControlFlow::Break(b) => ControlFlow::Break(b),
+        }
+    }
+}
+
 impl<B, C> ControlFlow<B, C> {
     /// Returns `true` if this is a `Break` variant.
     ///
diff --git a/library/core/src/ops/mod.rs b/library/core/src/ops/mod.rs
index 354ad6b7b7333..1b07936ccde1d 100644
--- a/library/core/src/ops/mod.rs
+++ b/library/core/src/ops/mod.rs
@@ -148,6 +148,7 @@ mod generator;
 mod index;
 mod range;
 mod r#try;
+mod try_trait;
 mod unsize;
 
 #[stable(feature = "rust1", since = "1.0.0")]
@@ -184,6 +185,12 @@ pub use self::range::{Bound, RangeBounds, RangeInclusive, RangeToInclusive};
 #[unstable(feature = "try_trait", issue = "42327")]
 pub use self::r#try::Try;
 
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+pub use self::try_trait::FromResidual;
+
+#[unstable(feature = "try_trait_transition", reason = "for bootstrap", issue = "none")]
+pub use self::try_trait::Try as TryV2;
+
 #[unstable(feature = "generator_trait", issue = "43122")]
 pub use self::generator::{Generator, GeneratorState};
 
diff --git a/library/core/src/ops/try_trait.rs b/library/core/src/ops/try_trait.rs
new file mode 100644
index 0000000000000..0c819b000aaab
--- /dev/null
+++ b/library/core/src/ops/try_trait.rs
@@ -0,0 +1,243 @@
+use crate::ops::ControlFlow;
+
+/// The `?` operator and `try {}` blocks.
+///
+/// `try_*` methods typically involve a type implementing this trait.  For
+/// example, the closures passed to [`Iterator::try_fold`] and
+/// [`Iterator::try_for_each`] must return such a type.
+///
+/// `Try` types are typically those containing two or more categories of values,
+/// some subset of which are so commonly handled via early returns that it's
+/// worth providing a terse (but still visible) syntax to make that easy.
+///
+/// This is most often seen for error handling with [`Result`] and [`Option`].
+/// The quintessential implementation of this trait is on [`ControlFlow`].
+///
+/// # Using `Try` in Generic Code
+///
+/// `Iterator::try_fold` was stabilized to call back in Rust 1.27, but
+/// this trait is much newer.  To illustrate the various associated types and
+/// methods, let's implement our own version.
+///
+/// As a reminder, an infallible version of a fold looks something like this:
+/// ```
+/// fn simple_fold<A, T>(
+///     iter: impl Iterator<Item = T>,
+///     mut accum: A,
+///     mut f: impl FnMut(A, T) -> A,
+/// ) -> A {
+///     for x in iter {
+///         accum = f(accum, x);
+///     }
+///     accum
+/// }
+/// ```
+///
+/// So instead of `f` returning just an `A`, we'll need it to return some other
+/// type that produces an `A` in the "don't short circuit" path.  Conveniently,
+/// that's also the type we need to return from the function.
+///
+/// Let's add a new generic parameter `R` for that type, and bound it to the
+/// output type that we want:
+/// ```
+/// # #![feature(try_trait_v2)]
+/// # #![feature(try_trait_transition)]
+/// # use std::ops::TryV2 as Try;
+/// fn simple_try_fold_1<A, T, R: Try<Output = A>>(
+///     iter: impl Iterator<Item = T>,
+///     mut accum: A,
+///     mut f: impl FnMut(A, T) -> R,
+/// ) -> R {
+///     todo!()
+/// }
+/// ```
+///
+/// If we get through the entire iterator, we need to wrap up the accumulator
+/// into the return type using [`Try::from_output`]:
+/// ```
+/// # #![feature(try_trait_v2)]
+/// # #![feature(try_trait_transition)]
+/// # #![feature(control_flow_enum)]
+/// # use std::ops::{ControlFlow, TryV2 as Try};
+/// fn simple_try_fold_2<A, T, R: Try<Output = A>>(
+///     iter: impl Iterator<Item = T>,
+///     mut accum: A,
+///     mut f: impl FnMut(A, T) -> R,
+/// ) -> R {
+///     for x in iter {
+///         let cf = f(accum, x).branch();
+///         match cf {
+///             ControlFlow::Continue(a) => accum = a,
+///             ControlFlow::Break(_) => todo!(),
+///         }
+///     }
+///     R::from_output(accum)
+/// }
+/// ```
+///
+/// We'll also need [`FromResidual::from_residual`] to turn the residual back
+/// into the original type.  But because it's a supertrait of `Try`, we don't
+/// need to mention it in the bounds.  All types which implement `Try` can be
+/// recreated from their corresponding residual, so we'll just call it:
+/// ```
+/// # #![feature(try_trait_v2)]
+/// # #![feature(try_trait_transition)]
+/// # #![feature(control_flow_enum)]
+/// # use std::ops::{ControlFlow, TryV2 as Try};
+/// pub fn simple_try_fold_3<A, T, R: Try<Output = A>>(
+///     iter: impl Iterator<Item = T>,
+///     mut accum: A,
+///     mut f: impl FnMut(A, T) -> R,
+/// ) -> R {
+///     for x in iter {
+///         let cf = f(accum, x).branch();
+///         match cf {
+///             ControlFlow::Continue(a) => accum = a,
+///             ControlFlow::Break(r) => return R::from_residual(r),
+///         }
+///     }
+///     R::from_output(accum)
+/// }
+/// ```
+///
+/// But this "call `branch`, then `match` on it, and `return` if it was a
+/// `Break`" is exactly what happens inside the `?` operator.  So rather than
+/// do all this manually, we can just use `?` instead:
+/// ```compile_fail (enable again once ? converts to the new trait)
+/// # #![feature(try_trait_v2)]
+/// # #![feature(try_trait_transition)]
+/// # use std::ops::TryV2 as Try;
+/// fn simple_try_fold<A, T, R: Try<Output = A>>(
+///     iter: impl Iterator<Item = T>,
+///     mut accum: A,
+///     mut f: impl FnMut(A, T) -> R,
+/// ) -> R {
+///     for x in iter {
+///         accum = f(accum, x)?;
+///     }
+///     R::from_output(accum)
+/// }
+/// ```
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+pub trait Try: FromResidual {
+    /// The type of the value produced by `?` when *not* short-circuiting.
+    #[unstable(feature = "try_trait_v2", issue = "84277")]
+    type Output;
+
+    /// The type of the value passed to [`FromResidual::from_residual`]
+    /// as part of `?` when short-circuiting.
+    ///
+    /// This represents the possible values of the `Self` type which are *not*
+    /// represented by the `Output` type.
+    ///
+    /// # Note to Implementors
+    ///
+    /// The choice of this type is critical to interconversion.
+    /// Unlike the `Output` type, which will often be a raw generic type,
+    /// this type is typically a newtype of some sort to "color" the type
+    /// so that it's distinguishable from the residuals of other types.
+    ///
+    /// This is why `Result<T, E>::Residual` is not `E`, but `Result<Infallible, E>`.
+    /// That way it's distinct from `ControlFlow<E>::Residual`, for example,
+    /// and thus `?` on `ControlFlow` cannot be used in a method returning `Result`.
+    ///
+    /// If you're making a generic type `Foo<T>` that implements `Try<Output = T>`,
+    /// then typically you can use `Foo<std::convert::Infallible>` as its `Residual`
+    /// type: that type will have a "hole" in the correct place, and will maintain the
+    /// "foo-ness" of the residual so other types need to opt-in to interconversion.
+    #[unstable(feature = "try_trait_v2", issue = "84277")]
+    type Residual;
+
+    /// Constructs the type from its `Output` type.
+    ///
+    /// This should be implemented consistently with the `branch` method
+    /// such that applying the `?` operator will get back the original value:
+    /// `Try::from_output(x).branch() --> ControlFlow::Continue(x)`.
+    ///
+    /// # Examples
+    ///
+    /// ```
+    /// #![feature(try_trait_v2)]
+    /// #![feature(control_flow_enum)]
+    /// #![feature(try_trait_transition)]
+    /// use std::ops::TryV2 as Try;
+    ///
+    /// assert_eq!(<Result<_, String> as Try>::from_output(3), Ok(3));
+    /// assert_eq!(<Option<_> as Try>::from_output(4), Some(4));
+    /// assert_eq!(
+    ///     <std::ops::ControlFlow<String, _> as Try>::from_output(5),
+    ///     std::ops::ControlFlow::Continue(5),
+    /// );
+    ///
+    /// # fn make_question_mark_work() -> Option<()> {
+    /// assert_eq!(Option::from_output(4)?, 4);
+    /// # None }
+    /// # make_question_mark_work();
+    ///
+    /// // This is used, for example, on the accumulator in `try_fold`:
+    /// let r = std::iter::empty().try_fold(4, |_, ()| -> Option<_> { unreachable!() });
+    /// assert_eq!(r, Some(4));
+    /// ```
+    #[unstable(feature = "try_trait_v2", issue = "84277")]
+    fn from_output(output: Self::Output) -> Self;
+
+    /// Used in `?` to decide whether the operator should produce a value
+    /// (because this returned [`ControlFlow::Continue`])
+    /// or propagate a value back to the caller
+    /// (because this returned [`ControlFlow::Break`]).
+    ///
+    /// # Examples
+    ///
+    /// ```
+    /// #![feature(try_trait_v2)]
+    /// #![feature(control_flow_enum)]
+    /// #![feature(try_trait_transition)]
+    /// use std::ops::{ControlFlow, TryV2 as Try};
+    ///
+    /// assert_eq!(Ok::<_, String>(3).branch(), ControlFlow::Continue(3));
+    /// assert_eq!(Err::<String, _>(3).branch(), ControlFlow::Break(Err(3)));
+    ///
+    /// assert_eq!(Some(3).branch(), ControlFlow::Continue(3));
+    /// assert_eq!(None::<String>.branch(), ControlFlow::Break(None));
+    ///
+    /// assert_eq!(ControlFlow::<String, _>::Continue(3).branch(), ControlFlow::Continue(3));
+    /// assert_eq!(
+    ///     ControlFlow::<_, String>::Break(3).branch(),
+    ///     ControlFlow::Break(ControlFlow::Break(3)),
+    /// );
+    /// ```
+    #[unstable(feature = "try_trait_v2", issue = "84277")]
+    fn branch(self) -> ControlFlow<Self::Residual, Self::Output>;
+}
+
+/// Used to specify which residuals can be converted into which [`Try`] types.
+///
+/// Every `Try` type needs to be recreatable from its own associated
+/// `Residual` type, but can also have additional `FromResidual` implementations
+/// to support interconversion with other `Try` types.
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+pub trait FromResidual<R = <Self as Try>::Residual> {
+    /// Constructs the type from a compatible `Residual` type.
+    ///
+    /// This should be implemented consistently with the `branch` method such
+    /// that applying the `?` operator will get back an equivalent residual:
+    /// `FromResidual::from_residual(r).branch() --> ControlFlow::Break(r)`.
+    /// (It may not be an *identical* residual when interconversion is involved.)
+    ///
+    /// # Examples
+    ///
+    /// ```
+    /// #![feature(try_trait_v2)]
+    /// #![feature(control_flow_enum)]
+    /// use std::ops::{ControlFlow, FromResidual};
+    ///
+    /// assert_eq!(Result::<String, i64>::from_residual(Err(3_u8)), Err(3));
+    /// assert_eq!(Option::<String>::from_residual(None), None);
+    /// assert_eq!(
+    ///     ControlFlow::<_, String>::from_residual(ControlFlow::Break(5)),
+    ///     ControlFlow::Break(5),
+    /// );
+    /// ```
+    #[unstable(feature = "try_trait_v2", issue = "84277")]
+    fn from_residual(residual: R) -> Self;
+}
diff --git a/library/core/src/option.rs b/library/core/src/option.rs
index 1c68abaf79d23..9c527eff4916f 100644
--- a/library/core/src/option.rs
+++ b/library/core/src/option.rs
@@ -150,8 +150,8 @@
 use crate::iter::{FromIterator, FusedIterator, TrustedLen};
 use crate::pin::Pin;
 use crate::{
-    hint, mem,
-    ops::{self, Deref, DerefMut},
+    convert, hint, mem,
+    ops::{self, ControlFlow, Deref, DerefMut},
 };
 
 /// The `Option` type. See [the module level documentation](self) for more.
@@ -1664,6 +1664,35 @@ impl<T> ops::Try for Option<T> {
     }
 }
 
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+impl<T> ops::TryV2 for Option<T> {
+    type Output = T;
+    type Residual = Option<convert::Infallible>;
+
+    #[inline]
+    fn from_output(output: Self::Output) -> Self {
+        Some(output)
+    }
+
+    #[inline]
+    fn branch(self) -> ControlFlow<Self::Residual, Self::Output> {
+        match self {
+            Some(v) => ControlFlow::Continue(v),
+            None => ControlFlow::Break(None),
+        }
+    }
+}
+
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+impl<T> ops::FromResidual for Option<T> {
+    #[inline]
+    fn from_residual(residual: Option<convert::Infallible>) -> Self {
+        match residual {
+            None => None,
+        }
+    }
+}
+
 impl<T> Option<Option<T>> {
     /// Converts from `Option<Option<T>>` to `Option<T>`
     ///
diff --git a/library/core/src/result.rs b/library/core/src/result.rs
index 20f8095b7d1ce..bac02104c3488 100644
--- a/library/core/src/result.rs
+++ b/library/core/src/result.rs
@@ -228,7 +228,7 @@
 #![stable(feature = "rust1", since = "1.0.0")]
 
 use crate::iter::{self, FromIterator, FusedIterator, TrustedLen};
-use crate::ops::{self, Deref, DerefMut};
+use crate::ops::{self, ControlFlow, Deref, DerefMut};
 use crate::{convert, fmt, hint};
 
 /// `Result` is a type that represents either success ([`Ok`]) or failure ([`Err`]).
@@ -1646,3 +1646,32 @@ impl<T, E> ops::Try for Result<T, E> {
         Err(v)
     }
 }
+
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+impl<T, E> ops::TryV2 for Result<T, E> {
+    type Output = T;
+    type Residual = Result<convert::Infallible, E>;
+
+    #[inline]
+    fn from_output(output: Self::Output) -> Self {
+        Ok(output)
+    }
+
+    #[inline]
+    fn branch(self) -> ControlFlow<Self::Residual, Self::Output> {
+        match self {
+            Ok(v) => ControlFlow::Continue(v),
+            Err(e) => ControlFlow::Break(Err(e)),
+        }
+    }
+}
+
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+impl<T, E, F: From<E>> ops::FromResidual<Result<convert::Infallible, E>> for Result<T, F> {
+    #[inline]
+    fn from_residual(residual: Result<convert::Infallible, E>) -> Self {
+        match residual {
+            Err(e) => Err(From::from(e)),
+        }
+    }
+}
diff --git a/library/core/src/task/poll.rs b/library/core/src/task/poll.rs
index 42c9d9f0cc039..2765c21a46db1 100644
--- a/library/core/src/task/poll.rs
+++ b/library/core/src/task/poll.rs
@@ -1,6 +1,7 @@
 #![stable(feature = "futures_api", since = "1.36.0")]
 
-use crate::ops::Try;
+use crate::convert;
+use crate::ops::{self, ControlFlow, Try};
 use crate::result::Result;
 
 /// Indicates whether a value is available or if the current task has been
@@ -152,6 +153,36 @@ impl<T, E> Try for Poll<Result<T, E>> {
     }
 }
 
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+impl<T, E> ops::TryV2 for Poll<Result<T, E>> {
+    type Output = Poll<T>;
+    type Residual = Result<convert::Infallible, E>;
+
+    #[inline]
+    fn from_output(c: Self::Output) -> Self {
+        c.map(Ok)
+    }
+
+    #[inline]
+    fn branch(self) -> ControlFlow<Self::Residual, Self::Output> {
+        match self {
+            Poll::Ready(Ok(x)) => ControlFlow::Continue(Poll::Ready(x)),
+            Poll::Ready(Err(e)) => ControlFlow::Break(Err(e)),
+            Poll::Pending => ControlFlow::Continue(Poll::Pending),
+        }
+    }
+}
+
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+impl<T, E, F: From<E>> ops::FromResidual<Result<convert::Infallible, E>> for Poll<Result<T, F>> {
+    #[inline]
+    fn from_residual(x: Result<convert::Infallible, E>) -> Self {
+        match x {
+            Err(e) => Poll::Ready(Err(From::from(e))),
+        }
+    }
+}
+
 #[stable(feature = "futures_api", since = "1.36.0")]
 impl<T, E> Try for Poll<Option<Result<T, E>>> {
     type Ok = Poll<Option<T>>;
@@ -177,3 +208,36 @@ impl<T, E> Try for Poll<Option<Result<T, E>>> {
         x.map(|x| x.map(Ok))
     }
 }
+
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+impl<T, E> ops::TryV2 for Poll<Option<Result<T, E>>> {
+    type Output = Poll<Option<T>>;
+    type Residual = Result<convert::Infallible, E>;
+
+    #[inline]
+    fn from_output(c: Self::Output) -> Self {
+        c.map(|x| x.map(Ok))
+    }
+
+    #[inline]
+    fn branch(self) -> ControlFlow<Self::Residual, Self::Output> {
+        match self {
+            Poll::Ready(Some(Ok(x))) => ControlFlow::Continue(Poll::Ready(Some(x))),
+            Poll::Ready(Some(Err(e))) => ControlFlow::Break(Err(e)),
+            Poll::Ready(None) => ControlFlow::Continue(Poll::Ready(None)),
+            Poll::Pending => ControlFlow::Continue(Poll::Pending),
+        }
+    }
+}
+
+#[unstable(feature = "try_trait_v2", issue = "84277")]
+impl<T, E, F: From<E>> ops::FromResidual<Result<convert::Infallible, E>>
+    for Poll<Option<Result<T, F>>>
+{
+    #[inline]
+    fn from_residual(x: Result<convert::Infallible, E>) -> Self {
+        match x {
+            Err(e) => Poll::Ready(Some(Err(From::from(e)))),
+        }
+    }
+}