IRS Explains 2011 Reporting for 2010 Conversions to Roth Accounts

The IRS has provided guidance to taxpayers who transferred amounts to a Roth account in 2010 in a taxable transaction. Generally, these taxpayers must report half of the income in 2011 and half in 2012, unless the taxpayer elected to report the income in 2010. Overview 2010 was the first year that taxpayers could transfer […]