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November 23, 2024
Question

I'm getting a refund - Roth Conversion Estimated Taxes

  • November 23, 2024
  • 1 reply
  • 0 views

Hello,

 

I have a W2 job and I get enough taxes taken out that I get a refund each year. I'm doing a small Roth conversion which I'm sure the taxable amount will be covered by the deductions I'm currently taking. Do I still need to pay estimated taxes on the amount of the conversion up front or can I just net it against the refund that I'm expecting when I file an April? Thanks!

1 reply

Employee
November 23, 2024

If you have covered your tax liability you don’t have to do anything else.