2010 Conversions
As I understand it, 2010 conversions can either be reported as 100% income in 2010 or 100% split evenly between 2011 and 2012. However, if husband and wife each convert part of their IRA to Roth, can one choose to report their conversion as taxable in 2010 while the other splits it between 2011 and 2012 or do they have to choose the same treatment.
Thank you in advance.
Glenn
Permalink Submitted by mk foss on Tue, 2009-10-13 17:10
Each spouse can make his/her own election for paying the tax on the 2010 conversion. Perfectly fine for one to pay the tax on 100% in 2010 while the other reports 50% in 2011 and 50% in 2012.