ktm29564
Returning Member

Retirement tax questions

OK, thanks.  If I understand both kind responses, I should pay 1/4 of the estimated tax liability by the required quarterly deadlines and not all at once in the first quarter.   What confused me was the following statement on the turbotax website:

 

"Should I pay in equal amounts?

Usually, you pay your estimated tax payments in four equal installments. But you might end up with unequal payments in some circumstances:

  • If you had your previous year's overpayment credited to your current year's estimated tax payments
  • If you don't figure your estimated payments until after April when the first one is due
  • If you unexpectedly make a lot of money in one quarter"

I interpreted the last statement as having to pay the entire rollover tax liability in the quarter it was incurred(?)