I have been retired for 5 years and am receiving deferred compensation (fully taxable) from my former employer. This year, I will only receive $30,000 in deferred compensation and so I elected to roll over $200,000 from my 401k into an IRA and then into a Roth IRA in January. I will pay taxes on the rollover from my bank account reserves. My question is, when do I pay the taxes on the rollover? Do I pay now, in the quarter the rollover occurred? Do I pay one quarter every quarter this year as estimated tax? Or can I just pay it all before the end of the year? I will receive half of the deferred compensation in February and the remaining half in August (taxes will be withheld by mu previous employer).
Thanks in advance,
Keith
