- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Great question on the timing of making estimated tax payments!
The IRS only requires quarterly estimated tax payments if you will owe $1,000 or more at tax time. Therefore, if the withholdings on your W2 job are sufficient to cover the tax liability of all your income, including the W2 income as well as the Roth Conversion, there is no reason to make estimated tax payments.
Regarding the charitable contributions, there is not an election you can make to divide the carryforward between future years. However, with that being said, if your income is low enough that you don't utilize all the carryforward in one year, you will be able to carry the unused balance forward to the next tax year. You can carry the unused amount forward for up to five years, but if you don't use them in that period of time, the unused portions become lost deductions.
**Mark the post that answers your question by clicking on "Mark as Best Answer"