IRA ROTH Conversion Taxes
Hello Terry, I am primarily a full time W-2 employee with a tiny amount of 1099 income. Last October 2025 I recharacterized an IRA (no withholdings) to a ROTH IRA (owing maybe around $59K) When do I have to pay the taxes by to avoid penalties? Some have told me quarterly others by this April 15th?
Terry Says
A lot depends on your total tax obligation and what you paid in last year, as to whether you should have been making quarterly tax payments. I’m assuming that your withholding equaled the amount due LAST year, so you are safe. BUT, you MUST make the tax payment on the conversion by the time your return is due this year, on April 15th– and that does not include any extensions to file that you may receive.
