I just converted my old IRA to a Roth IRA. I've read a couple of places that I was required to make estimated tax payments on the roll over amount. Anybody know either way?BenLF
<<I just converted my old IRA to a Roth IRA. I've read a couple of places that I was required to make estimated tax payments on the roll over amount. Anybody know either way?>>You may or may not have to make estimated tax payments this year. Even if the amount of the rollover was large, you may not have to pay estimated taxes if you can rely on the safe harbor for your prior year taxes. If you rely on this safe harbor you avoid the requirement to pay estimates, but you can end up with a whopping tax bill in April 1999. This topic will be covered in my web site within a couple of weeks if not sooner.KAT in Chicagolandhttp://www.fairmark.comTax Guide for InvestorsIncludes the latest information onRoth IRA technical corrections
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