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Level 1
posted Nov 23, 2024 8:25:26 AM

I'm getting a refund - Roth Conversion Estimated Taxes

Hello,

 

I have a W2 job and I get enough taxes taken out that I get a refund each year. I'm doing a small Roth conversion which I'm sure the taxable amount will be covered by the deductions I'm currently taking. Do I still need to pay estimated taxes on the amount of the conversion up front or can I just net it against the refund that I'm expecting when I file an April? Thanks!

0 1 12799
1 Replies
Level 15
Nov 23, 2024 10:52:54 AM

If you have covered your tax liability you don’t have to do anything else.