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Roth Conversion tax payment (cash)
I want to do a Roth Conversion ($88,000) this month and I've already received my 2024 tax refund. I'm 67, not collecting S.S., $15k pension income, after my $17k standard deduction which keeps me in the 22% bracket for the conversion. My question - how exactly do I properly pay the tax due ($15,312) after opening and funding the Roth to avoid any penalty? I have cash. I've read elsewhere that you can simply go to "IRS.gov/payments" and make the estimated payments. Is this correct? Do I have to submit any forms as well?
‎April 10, 2025
2:04 PM