Question 19 of 25. Which of the following is FALSE regarding a conversion contribution? The 10% additional tax on early distributions does not apply, A part or all of the distribution from the traditional IRA may be included in gross income and subject to ordinary income tax Only one direct rollover from an IRA to another for the same) IRA can be made in any 12-month period, no matter the number of IRAs owned Amounts that are required to be distributed from a traditional IRA for the year cannot be converted, Question 18 of 25. A social security lump-sum election allows a taxpayer to: Treat a lump-sum social security benefit as if the benefits for prior years had been received in those years. Include the social security benefits received for prior years in current-year benefits. Elect ten-year averaging on the lump-sum payment. Evenly allocate the lump-sum benefit over the current year and the prior years