Yes, you can convert the IRA to a Roth IRA. From your figures, $1000 will be taxable. You will receive a 1099-R from the plan custodian. Your tax return will use form 8606 to calculate the tax on the conversion and show your remaining basis in traditional IRAs (which should be zero). Turbotax can do this, it will ask you for some numbers from your most recent (2019) form 8606.
You could make an estimated payment for the tax at www.irs.gov/payments. If you over-pay the estimate, the difference will come back to you as a tax refund. However, since the tax is likely to be $240 or less, you can probably just let it ride until you file your return, that amount of tax owed should not be enough to trigger any penalties unless you are already under-withheld on your other income.
