Midpack
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This was discussed briefly a while back but I cannot find it.
Those who do large annual Roth conversions, do you:
Other suggestions?
I’d like to convert 95% now and pay no estimated taxes until Jan - but I know that won’t fly with the IRS (without penalty).
Those who do large annual Roth conversions, do you:
- Do a big (e.g. 80% of planned) conversion and pay big estimated taxes early in the year with a small trim conversion and taxes at year end.
- Wait until year end when all other income is largely known and convert and pay estimated taxes in Dec/Jan.
- Plan on converting about 1/4 of planned amount each quarter, paying about 1/4 of estimated taxes quarterly.
- Other.
Other suggestions?
I’d like to convert 95% now and pay no estimated taxes until Jan - but I know that won’t fly with the IRS (without penalty).
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