I converted IRA to Roth at the END of the Year (Dec) and paid the taxes owed fully.
Yet it appears that Turbo Tax does not ask when the conversion was done but calculates BACK taxes owed for each quarter of the year with a penalty for underpayment of taxes. Spreads it across the year. This does not seem right. One does not know until later in the year if one should do conversions… so why the back owed taxes? .. Turbo Tax should ask when the conversion was done and calculate taxes due accordingly. Thx.
