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Quarterly taxes
I am now retired and will have to start paying quarterly estimated taxes. It is my understanding that Uncle Sam wants taxes paid in the quarter that income is made. I plan on converting funds from my traditional IRA to a Roth IRA. So I will have a "chunk" of income in one quarter and the other quarters will have much lower income. How do I calculate the taxes I will owe for the quarter when I do the Roth conversion?
March 24, 2021
5:13 PM