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Originally Posted by LRDave
I started my micro-pension this year and DW starts here teachers pension 8/1.
Will we be good having our pension withholdings cancel out our taxes for this year including a Roth conversion? In the case that we have withholdings, does that remove the requirement for quarterly payments?
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You might want to ensure that you have additional Fed and State withholding at the time of your Roth Conversion by your IRA custodian. Your pension withholding will not know about this by default.
P.S. I think Federally, if you w/h at least 100% of last years total Fed taxes due, you will qualify for a safe-harbor for any underwithholding penalties. The percentage goes up above 100% for high-income earners.
-gauss