Hello, I did my first Roth conversion this year and while reviewing my most recent traditional IRA basis on form 8606, I realized I never factored in two types of rollovers I have done in the past from employers: a 401K including both employee and employer contributions, and an employer pension plan vested benefit which was from employer only contributions. Do either of these two types of rollovers into a traditional IRA affect the basis of the IRA? I know the basis affects the taxable portion of the Roth rollover I did. Thank you for your help. (I reviewed previous questions but none seemed to be just like my situation.)
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When I used TurboTax to complete my 2015 tax returns, it calculated my 2016 estimated tax due. The first time through it asked if I wanted to calculate manually, and I skipped it thinking it would let me revisit this step, but it never did. I plan to retire int he middle of this year so my income this year will be much less than last year, so I think the estimated tax included in my 2015 return is too high and I will end up overpaying and getting a big refund which I do not want. Do I have to pay the amount TurboTax included on my return, or can I pay a lower amount that should avoid a big refund next year. I pay estimated taxes because I own an S Corp and usually have some non-salary earnings to be taxed, but this year I do not expect to have any.
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