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Posted: 9/12/2015 12:13:46 AM EDT
[#1]
Correct. If the conversion is substatial you need to be prepared to pay quarterly estimated taxes the following year too
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Posted: 9/12/2015 12:36:51 AM EDT
[#2]
Quote HistoryQuoted:
Correct. If the conversion is substatial you need to be prepared to pay quarterly estimated taxes the following year too It's just 2k. 
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Posted: 9/19/2015 5:25:31 PM EDT
[#3]
I transferred the money over.
It was around 2k, but I contributed $200 this year to that amount, meaning when it comes tax time, I only add $1800 to my total income, correct? |
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Posted: 9/23/2015 10:16:34 AM EDT
[#4]
Quote HistoryQuoted:
I transferred the money over. It was around 2k, but I contributed $200 this year to that amount, meaning when it comes tax time, I only add $1800 to my total income, correct? your roth conversion was 1800 or 2000? |
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Posted: 9/27/2015 1:15:10 AM EDT
[#5]
Quote HistoryQuoted:
your roth conversion was 1800 or 2000? Quote HistoryQuoted:
Quoted:
I transferred the money over. It was around 2k, but I contributed $200 this year to that amount, meaning when it comes tax time, I only add $1800 to my total income, correct? your roth conversion was 1800 or 2000? $2000. $200 of that I contributed this year. |
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Posted: 10/6/2015 2:49:45 PM EDT
[#6]
Quote HistoryQuoted:
$2000. $200 of that I contributed this year. Quote HistoryQuoted:
Quoted:
Quoted:
I transferred the money over. It was around 2k, but I contributed $200 this year to that amount, meaning when it comes tax time, I only add $1800 to my total income, correct? your roth conversion was 1800 or 2000? $2000. $200 of that I contributed this year. I see. |
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Posted: 10/8/2015 9:33:40 AM EDT
[#7]
Quote HistoryQuoted:
I transferred the money over. It was around 2k, but I contributed $200 this year to that amount, meaning when it comes tax time, I only add $1800 to my total income, correct? I think this will be accounted for separately on your income tax return, but in effect it will only be an $1800 effect. So you will show $2k in income from your rollover and separately show $200 in IRA contribution that is pre-tax. I think that is how it will work. We've been rolling around the idea of doing that to my wife's IRA. She had an old 401k from a previous employer that I just rolled into an IRA. I'd love to have it as a Roth, but leaving it alone for now. |
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Posted: 10/8/2015 11:14:05 PM EDT
[#8]
Quote HistoryQuoted:
Correct. If the conversion is substatial you need to be prepared to pay quarterly estimated taxes the following year too Why?? |
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