cspyon1
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Got it. I don't want to add another $5,000 to make up for my original Roth IRA contribution, though.
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When I fill out the online form on this transfer to Roth IRA, I see three options:1) default federal tax (20%)2) fixed percent (must be above 20%)3)do not withh...
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So, even if I pay 20% federal tax now, do you mean I still have to pay the tax for $25,000, not $20,000? What's the point of paying the tax now?
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In that case, I pay $5000 tax upfront, and get taxed again for the $25,000 when the actual contribution to Roth IRA is $20,000?What's the point of paying the ta...
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Okay, for the sake of calculation, let me put it this way.If I pay 20% federal tax of $25,000, it's $5,000.Say I add this amount to my estimated income of $30,0...
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