Roth Conversion

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  • gman
    Senior Member
    • Dec 2005
    • 676

    #1

    Roth Conversion

    Taxpayer rolled over traditional IRA to Roth. Will pay tax in 2011 & 2012. Should owe approx 8500.00 per year. Must estimates be made in those years to include the tax that will be owed on the conversion?
  • dyne
    Senior Member
    • Jul 2005
    • 764

    #2
    YES if he wants to avoid the penalty on line 77 of the federal tax return.

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