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Strategies & Market Trends : Roth IRA ideas
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To: Colin Cody who wrote (362)9/14/1999 11:22:00 AM
From: Howard R. Hansen  Read Replies (1) of 388
 
Estimated Tax Question
If a person did a partial conversion of a rollover IRA to a Roth IRA after September 15, 1999 could one pay the estimated tax due in one payment before January 15, 2000 and not be penalized. What has me worried is this statement "If an estimated tax payment for a previous period is less than 1/4 of your amended estimated tax, you may owe a penalty when you file your return." from form 1040-ES. Because the conversion will cause a large increase in my estimated tax, prior estimated tax payments will be less than 1/4 of my amended estimated tax. The same problem also arises when a mutual fund makes a large year distribution.
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