Your filing status will determine the amount of your standard deduction, so you could have taxable income of about $25,000 if filing jointly or $36,000 if single.
I am assuming you will not be itemizing deductions.
So you will have an income tax liability of approximately $3,000 to $5,000 in my simple example.
You should make an estimated tax payment.
You will not owe Self-Employment Tax on the 401 (k) to Roth IRA conversion.
If you used TurboTax Live for your 2022 filing, you can go online or call in to set up a Tax Advice call with one of our Experts.
