I'm considering converting a portion of a regular IRA to an existing Roth IRA in a direct trustee transfer and would prefer to withhold estimated taxes from IRA funds rather than pay from existing savings. Is this tax withholding subject to 10% penalty? I'm under 59.5 years of age. My financial advisor says no, but review of IRS publications 590-A and 590-B was unclear. Please advise. Thanks.
