TromboneAl
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 30, 2006
- Messages
- 12,880
My mistake was that I could have converted $22,000 to Roth (instead of only $10,000) and paid zero taxes on it. The reason for the mistake:
- I only did a rough estimate of my taxes in December.
- I looked at the sale of stock, but didn't consider that it would be a loss rather than a gain.
- Since I'd paid zero estimated tax (intentionally), I worried that I would convert too much and have to pay a penalty.