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Estimated taxes for Roth IRA Conversion
This Fall 2020, I converted a portion of my Traditional IRA to a Roth IRA. I did not withhold any taxes when I converted the money to a Roth. I know I need to pay taxes on it. Can I use the 1040ES to make an estimated tax payment to the IRS for the income from the IRA conversion? I work a regular job that has normal federal withholding, I am not self-employed, and this Roth conversion from my Traditional IRA was just a one-time deal.
‎October 25, 2020
1:53 PM