Reporting in 2010, as well as split over next 2 years
Hello all,
can a client filing MFJ claim the income from his 2010 roth conversion for 2010 and split the income from her 2010 roth conversion (or vice versa) over the next two years?
Thanks in advance,
Permalink Submitted by Alan Spross on Tue, 2011-04-12 17:11
The client has a choice of either deferring the conversion income to 2011 and 2012, or opting out of the deferral and reporting all the income in 2010. These choices cannot be used in combination, nor can income be split between 2010 and any other year.
However, a client’s spouse can make a different choice if the spouse also did a conversion. In other words, client could report entire conversion in 2010 while spouse reports theirs in 2011 and 2012 or vice versa.