Yesnam

The IRS, it would seem, is concerned with more than just its share of tax as the IRS expressly forbids the RMD from being converted into a Roth. So, the way I understand it, any part of the Roth conversion cannot satisfy the RMD requirements.

I understand that normally RMD needs to occur prior to Roth conversion. Does this also apply to partial conversion? In other words, can RMD occur after partial Roth Conversion in the same year? Will appreciate any clarity on this. Thanks.

In one of the announcements, the broker has advised that "1099 tax forms for the 2011 tax year will be sent out via regular mail by March 15, 2012."

Thanks. I will wait for the 1099R form that for some reason will not be available until after March 15.

In my Roth statement for December 2011, I notice that there is an entry under Income Summary that says Year-to-date Taxable Dividend($142.82). I am a bit puzzled because I had assumed earnings in a Roth account are tax free. Is there any situation under which dividend earned on stocks/ETFs/Mutual Funds in a Roth account be taxable? Or could it be that a particular fund that I have in my portfolio the dividend on which is subject to tax? Thanks for any possible insight.

Thanks for clarifying the issue for me.

If one converted traditional IRA into Roth IRA in 2010 and opted to report conversion income in 2011 and 2012, is it still possible for him/her to convert more in 2011? If it is, how is this additional conversion (done in 2011) to be reported?

No, I simply wanted to know if the income from Roth conversion (from a pre-tax IRA) itself will ever attract social security tax. As I mentioned, the person doesn't even receive any social security payments. The only reportable income the person has is from the conversion and a very measly sum of interest on bank deposits

If a person has retired and has absolutely no reportable income other than the income from Roth conversion, does his income from Roth conversion invite social security tax? The person in question does not qualify for social security benefits or any other usual retirement benefits.

I have been a Permanent Resident (a 'Green Card' holder) for less than 8 years (thus not a long-term PR), but would now like to abandon my PR status so that I don't have to travel to the US at least once a year just to maintain my PR status. Once I leave the country, I don't see any reason for me to return to the US anytime soon. So far I have filed my tax return yearly and on time. My question: What would be my tax obligations upon reliquishing my PR status and surrendering my 'Green Card' (I-551) and beyond in the future years?

Thank you very much for clarifying the issue. Yesnam

Does this also include any earnings on the converted amount?

I have had a regular Roth IRA for over five years. I have just rolled over my 403(b) into a Rollover IRA (I was told I could even though I am still employed). I am planning to convert portion of this Rollover IRA into the Roth IRA. My question: If I convert the Rollover IRA to the Roth (I will be over 59½ at the time of this partial conversion), do I still have to wait for five years before taking distributions from the converted Roth to avoid a 10% tax penalty?