Samuel, age 53, has a traditional deductible IRA with an account balance of $112,000.Of this amount, $82,000 represents contributions and $30,000 represents earnings.In 2012, he converts his traditional IRA into a Roth IRA.What amount must Samuel include in his gross income, if any, in 2012?

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The Answer of Samuel, age 53, has a traditional deductible IRA with an account balance of $112,000.Of this amount, $82,000 represents contributions and $30,000 represents earnings.In 2012, he converts his traditional IRA into a Roth IRA.What amount must Samuel include in his gross income, if any, in 2012?

Samuel, Age 53, Has a Traditional Deductible IRA with an Account