Roth conversion from Trad IRA on 4th Q Dec 2024

There was no line for tax withholding on the broker's form so no taxes taken. Can I still pay estimated taxes beyond the Jn 15 quarterly payment deadline or can I pay wait for the Apr 15 filing deadline to avoid penalty?

posted

You can still make a payment, but it will not be credited to the January 15th estimated tax payment. At this point, you will have to qualify for an exception or request an abatement. If you do not qualify automatically, you have reasonable cause especially if it was your first time and do not regularly do the Roth conversions.

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