topic Roth IRA conversion in Retirement tax questions

Roth IRA conversion

RWM47 — Tue, 24 Feb 2026 06:11:19 GMT

1. Are the taxes due on a traditional IRA converted to a Roth IRA included in the underpayment penalty calculation?

2. I can't find detail on the Penalty/Interest calculation in TT. How do I get to see the calculation (form 2210)?

Re: Roth IRA conversion

AmyC — Mon, 03 Apr 2023 16:36:46 GMT

1. The tax on the conversion is in your tax liability as the income from the conversion is on your tax return. The penalty is based on the total income vs tax paid during the year. So, yes, the conversion income is part of the penalty computation. If you did the conversion later in the year, annualizing your income may help lower the penalty.

2. To see your forms:

In desktop, switch to Forms Mode.
For online, see How do I preview my TurboTax Online return before filing?

The IRS expects to be paid when you are -so an estimated payment to the IRS would have been a good move.

See Information on Penalties

Re: Roth IRA conversion

RWM47 — Tue, 04 Apr 2023 16:48:54 GMT

How do I see the detail for the penalty/ interest that TT is calculating? I didn't see it in forms.

Re: Roth IRA conversion

MaryK4 — Wed, 05 Apr 2023 03:10:56 GMT

Look for Schedule 2, Line 8 Additional tax on IRAs or other tax-favored accounts. (Form 5329) @RWM47

Re: Roth IRA conversion

RWM47 — Tue, 11 Apr 2023 21:43:00 GMT

Thanks!

Also looking for the support for the Estimated tax penalty on line 38 of form 1040. Can you help me find this detail?

Re: Roth IRA conversion

DawnC — Tue, 11 Apr 2023 21:57:02 GMT

Find Form 2210 in your list of forms. It will show you the detail for the amount on LIne 38 of Form 1040. Why am I getting an underpayment penalty?

Re: Roth IRA conversion

RWM47 — Tue, 11 Apr 2023 22:10:36 GMT

Form 2210 is not in my list of forms but there is an amount in line 38. Any ideas?