The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/estimated-taxes-due-30956939.aspx

Subject:  Estimated Taxes Due? Date:  11/4/2013  4:43 PM
Author:  monica3674 Number:  119454 of 121333

Last year, my dad converted a traditional IRA to a Roth. He had substantial taxes due and paid them with his 2012 filing.

This year, he is converting other IRAs to Roths and also taking his first RMD. He will owe about $14k in federal income tax due to this conversion. Should he pay estimated taxes? We missed the first few deadlines. How much should he pay (and when should he pay it?)

Thanks!

Monica
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us