Question
Roth Conversion Estimated Taxes with charitable carryover
I am trying to use form 1040-ES to calculate whether I need to pay estimated taxes on a Roth conversion of about $1600 that I did in late April 2024.
I only worked a few months this year and I have a charitable carryover that keeps me in the 10% tax bracket.
Could the taxes that my employer took out of my paycheck cover the tax for the Roth conversion so that I wouldn't need to make a tax payment specifically for the Roth?
Or, should I pay the IRS about $160 for the Roth conversion --- even if it's an overpayment --- in order to avoid any further penalty?
Thank you!
