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Financial Planning / Tax Strategies
|Subject: Re: Amending 2010 return||Date: 10/2/2012 9:24 PM|
|Author: Wradical||Number: 116726 of 121219|
That's what I get for not looking at the forms themselves before e-filing my return through TaxAct. In 2010 I rolled over all of my stocks (no cash) from my SEP-IRA to my qualified Roth, and chose to pay the taxes in 2011 and 2012. While preparing my 2012 return, I note that, apparently though some oversight of my own, I did not re-enter the numbers onto lines 25a and 25b (they were entered onto 20a and 20b). I am actually thinking of going ahead and paying all of the taxes this year, but if I don't, how would I amend 2010 to reflect my intentions. It only makes a difference of about $600 in taxes due, plus penalty, I am sure.
As to the Roth conversion, you had two choices:
1. Pay it all in 2010, or
2. Paying 1/2 in 2011 and 1/2 in 2012.
Paying it all in 2011 was not a choice.
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