TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 2

Question

Taxes from a 401 k to Roth conversion

Forum|Forum|1 year ago
November 18, 2024
2 replies
8 views

I converted a 401k to a Roth IRA 4th Q 2024. How do I pay the taxes now so that I don't get hit with an underpayment fine?

Not A Product Question

Level 15

Two steps.

First, make an estimated payment before January 15, 2025 at www.irs.gov/payments.

Then, when you prepare your tax return, perform the penalty interview (it may not come up automatically) and select the "annualized" method. This will complete form 2210 Schedule AI, to divide your income by quarters and show that even though your payments were unevenly loaded into the last quarter, they matched your income that was also unevenly loaded in the last quarter.

Level 2

Thank you Opus 17th. Very helpful, especially the second part!