Estimated tax safe harbor.
In December I converted a standard IRA into a Roth IRA. No income tax was deducted in this conversion. In early January, before January 15, I paid an estimated income tax so that my total estimated income tax plus income tax deductions for the year was a safe harbor amount – that is greater than my 2018 total income tax. I have entered the estimated taxes in the estimated tax form. The 1040 form shows the total taxes that is estimated plus deduction that I have paid.
Why is TurboTax calculating that I owe a little over hundred dollars in tax penalty?
