Did you convert a traditional individual retirement account into a Roth IRA during 2010? A special feature of the conversion allowed individuals to spread the taxes due on converted amounts equally over the 2011 and 2012 tax years. This means that the 2011 return will include the first portion of the conversion taxes. Make sure to plan for this as well as for the 2012 tax year.
/posted by Andrea Paezold-Ruehl, CPA
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