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For conversion in 1998, how is payment of taxes handled? Since Roth distributions would be heavily penalized (I assume even to pay the tax over four years), I assume you have to "hold back" IRA funds to pay the tax, paying the tax and penalty each year for four years. Has IRS made an exception by allowing you to take out Roth distribution to pay this four year tax? Also, for we who must file estimated taxes, do you have to pay equal amounts of the tax in the quarterly payments, or can you wait until April 15th to pay the entire amount of the tax due, without risking an underpayment penalty? Thanks.
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