Craig Wear explains when taxes on Roth conversions are due and how quarterly estimated payments work. Taxes owed are due by the regular filing deadline, typically April 15 the year after conversion. He recommends consulting a CPA for specifics.
So here's a little bit of a breakdown of when the taxes are due for that Roth IRA conversion and how the quarterly payments get calculated and when penalties might apply to you. Again, I'm not a cpa. I'm just kind of giving you educational information here. I've got to cover my rear end so that you understand that this is not CPA level information, although I think it's pretty relevant and pretty accurate. There are things in your own circumstances that can change this that you need to be aware of and that's where you really need to seek the guidance of a professional. And We've got several CPAs around the country that we work with and we'd be happy to introduce you with somebody there too. So first of all, when are the 1 of the taxes due? Well, first of all, taxes owed on a Roth conversion are really due by the regular tax filing deadline for the year in which you do the conversion, and that's typically April 15th of the following year.
