How do I avoid an underpayment penalty when I do a large ROTH conversion?
I plan on doing a ROTH conversion of around $80K. The goal is to put my taxable income near the top of the 24% tax bracket for single filers. That will be $197,300.
I have never paid estimated payments before. I receive a paycheck and get a W2 at the end of the year.
Last year I converted $70K and paid a $250 penalty.
I'd like to avoid that this year. Does it matter when during the year I do the ROTH conversion to avoid a penalty?
Thanks
