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Could someone please advise how I can pay quarterly Federal Income Tax via TurboTax for Roth IRA Conversion During 2019?

I plan to convert a Traditional IRA to a Roth IRA in 2019. I am 68 years old. I have been advised to pay Federal Income Tax quarterly on the amount I convert so as to avoid any IRS penalty. Could someone please advise how I can pay quarterly Federal Income Tax via TurboTax? The 2019 TurboTax software is not available until late 2019.

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Level 4

Could someone please advise how I can pay quarterly Federal Income Tax via TurboTax for Roth IRA Conversion During 2019?

You can use your 2018 TurboTax software to calculate Estimates for 2019.

To do so, please follow these instructions:

  • With your tax return open, search for 1040-es (be sure to include the dash) and select the “Jump to” link.
  • Answer "No" to the question "Do you want to change your W-4 withholdings for 2019?"
  • On the next screen, Review Your Estimates, select "Review Now". Answer the questions about things like your 2019 filing status, income, and deductions.  
  • Eventually, you'll come to the "Print Vouchers?" screen.  Answer Yes so your 2019 1040-ES payment vouchers can be printed.

Please comment below if you need further clarification.

View solution in original post

4 Replies
Highlighted
Level 4

Could someone please advise how I can pay quarterly Federal Income Tax via TurboTax for Roth IRA Conversion During 2019?

You can use your 2018 TurboTax software to calculate Estimates for 2019.

To do so, please follow these instructions:

  • With your tax return open, search for 1040-es (be sure to include the dash) and select the “Jump to” link.
  • Answer "No" to the question "Do you want to change your W-4 withholdings for 2019?"
  • On the next screen, Review Your Estimates, select "Review Now". Answer the questions about things like your 2019 filing status, income, and deductions.  
  • Eventually, you'll come to the "Print Vouchers?" screen.  Answer Yes so your 2019 1040-ES payment vouchers can be printed.

Please comment below if you need further clarification.

View solution in original post

Highlighted
New Member

Could someone please advise how I can pay quarterly Federal Income Tax via TurboTax for Roth IRA Conversion During 2019?

Outstanding. Thank you so much for the prompt and informative response.
Highlighted
Level 4

Could someone please advise how I can pay quarterly Federal Income Tax via TurboTax for Roth IRA Conversion During 2019?

You're welcome!
Highlighted
Level 13

Could someone please advise how I can pay quarterly Federal Income Tax via TurboTax for Roth IRA Conversion During 2019?

If you prefer to pay your federal estimated taxes online rather than mailing paper checks and printed vouchers, you can do so here:  https://www.irs.gov/payments