turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

After converting traditional IRA to Roth IRA and selecting 0 dollar tax withheld, how and when to pay tax using saving's money to avoid penalty at tax filing season?

After converting traditional IRA to Roth IRA and selecting 0 dollar tax withheld, how and when to pay tax using saving's money to avoid penalty at tax filing season?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Ruth C-L
Employee Tax Expert

After converting traditional IRA to Roth IRA and selecting 0 dollar tax withheld, how and when to pay tax using saving's money to avoid penalty at tax filing season?

I recommend calculating the estimated taxes based on your last year's marginal tax rate (highest tax rate calculated) and making the estimated tax payment via IRS Direct Pay: https://www.irs.gov/payments/direct-pay

 

Depending on your state, you may or may not want to make a state estimated tax payment.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question