Massachusetts 2011: Roth IRA Conversions Taxed in 2011
Taxpayers, who converted funds from certain retirement accounts to a ROTH IRA in 2010, were able to elect to pay the tax on that conversion amount in 2011 and 2012.
Certain customers, who had a ROTH IRA conversion in 2010, may have filed an incorrect Massachusetts tax return.
TurboTax has fixed this issue.
How to tell if you may be impacted
You may be affected if ALL of the following are true:
- You filed your 2011 Massachusetts tax return after April 25, 2012 and before September 14, 2012 AND
- You transferred your 2010 Massachusetts TurboTax tax return information to your 2011 return AND
- You had a Roth IRA Conversion during 2010 AND
- You chose to postpone paying tax on that ROTH IRA conversion until 2011 and 2012
If you are affected, you may have overpaid your Massachusetts tax. You may need to amend your Massachusetts tax return.
You can make the corrections yourself.
• To do it yourself, please follow these step-by-step instructions.
• After you make the changes to your tax return, you will need to mail a copy of your amended state return.
• Your printed return will include instructions on how and where to mail it.
• If you need assistance, call us at the phone number in the email.
Or let us do the work for you.
1. Please download and print this Authorization Form.
2. Complete the form and fax it to us at the number printed at the top of the form.
3. A TurboTax representative will contact you (within 15 days) when your corrected return is ready to be securely emailed back to you.
4. You can print, sign, and mail the corrected return to the state taxing authority.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the Massachusetts 2011: CONVERSIONS ROTH IRA.
