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As stated before I do not live in CT either.

I believe for Federal Taxes - If you make a conversion in December and have the taxes taken out by the broker you will not be penalized for not making Estimated Payments.

If you do several smaller conversions throughout the year and have the total Estimated taxes wh on your final conversion in Dec, the IRS deems that WH taxes from the broker are treated as spread over the year.
No penalty.
If you pay the taxes externally from other sources you WILL be penalized for not making Quarterly Estimated payments.

I have no idea if CT or NJ treat this the same way. Still investigating with NJ on that.
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