I have a question about Form 2210, Schedule AI, Part 1, Line 18 and the Form 8962 Premium Tax Credit. In my own case, I will get a 2024 Premium Tax Credit and a small tax refund if I don't do a IRA to Roth IRA conversion during 2024. That would obviously mean I don't need to make any 2024 estimated tax payments.
If I do a 2024 IRA to Roth IRA conversion on 12/31/2024, however, it will completely wipe out the 2024 Premium Tax Credit. But I also want to show that tax credit on Form 2210, Schedule AI, Part 1, Line 18 in column (a), (b) and (c) to justify not making any estimated tax payments for 2024/Q1, 2024/Q2 and 2024/Q3. My 2024 tax return will likely reflect a Premium Tax Credit of $ 0 and the claimed Form 2210, Schedule AI, Part 1, Line 18 column (d) amount would be $ 0. That would allow me to make a single 2024 estimated tax payment on 01/15/2025.
1> Does anyone think this particular strategy is flawed?
2> Will Turbotax software help me prepare the Form 2210, Schedule AI and let me enter amounts on Part I, Line 18 in column (a), (b) and (c) and and $ 0 in column column (d)?
