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Retirement tax questions
I converted $55,000 from my rollover ira to a roth ira. I did not withhold any taxes (typical 20%). I received a 1099R for $55,000 with no taxes withheld. Instead, I sent $12,000 to IRS as federal taxes the same day of the conversion (12/31/20).
Question: Do I report this payment as additional "Federal Estimated Taxes" which was not planned
or "Other Income Taxes" not withheld on a 1099R?
‎April 12, 2021
12:37 PM