38 years old and did an 23K IRA roll-over from a traditional IRA to a Roth during 2023. Of course, I owe tax on this conversion because my income increased by 23K this year for the conversion. Turbo Tax indicates I need to pay quarterly next year because of the 2023 income. Next year my income will be 23K less, back to the level it was in previous years. Do I have to pay quarterly estimated taxes, 1040 ES this year in 2024? My 2024 payroll tax deductions will cover my tax liability.
