Mar 9, 2024 #1 A afntrn56 Recycles dryer sheets Joined Sep 9, 2010 Messages 95 If I had zero tax for 2023 and do a Roth IRA conversion in 2024 am I exempt from the underpayment tax penalty?
If I had zero tax for 2023 and do a Roth IRA conversion in 2024 am I exempt from the underpayment tax penalty?
Mar 9, 2024 #2 C cathy63 Thinks s/he gets paid by the post Joined Mar 17, 2013 Messages 3,724 Location Coronado Yes. You are exempt from the requirement to pay estimated taxes if you had no tax liability in the prior year.
Yes. You are exempt from the requirement to pay estimated taxes if you had no tax liability in the prior year.
