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Author: BenLF Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Roth: Estimated Taxes Date: 4/16/1998 2:53 PM
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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
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Author: KATinChicagoland Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3584 of 121219
Subject: Re: Roth: Estimated Taxes Date: 4/18/1998 2:04 PM
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<<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 Chicagoland
http://www.fairmark.com
Tax Guide for Investors
Includes the latest information on
Roth IRA technical corrections


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