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Roth Conversion taxes
I had income in quarters 1 - 3 in 2024, and taxes were paid in full. I did a hefty Roth Conversion on December 20, 2024. My financial advisor said taxes on this were not due until 4/15/25, so I did not do an estimated tax payment in January. Now, TurboTax is telling me I owe a penalty, even though I did the annualized income, deductions and taxes. Did my financial advisor give me back advice, am I doing something wrong on the 2210 form, or is there something else I need to do to avoid this penalty?
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March 22, 2025
1:19 PM