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IRA to Roth
In late December 2019 I rolled money from my IRA to my Roth IRA and electronically paid estimated tax on the additional income the rollover produced the next day. TurboTax indicated I owed a penalty for failure to pay estimated tax, presumably because it looked at the additional income as earned over the entire year. I overrode the penalty in TurboTax but the IRS assessed the same penalty. I have appealed the penalty and still waiting to hear the results of my appeal. How can I avoid this on my 2020 taxes?
‎October 5, 2020
4:03 PM