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Personal Finance and Investing

progree

(11,471 posts)

4. I'm safe harbor - I paid 2020 estimated taxes in total equaling my 2019 actual taxes

Reply to question everything (Reply #3)

Fri Jan 1, 2021, 06:01 PM

Jan 2021

(including my scheduled Jan 15, 2021 payment)

so I'm free from interest and penalty.

I didn't plan on such a large Roth conversion, but the numbers worked for me and I got rid of an entire Traditional IRA account, simplifying my financial life. (Still have a small one at the Credit Union. And a sizable inherited traditional IRA account that I can't convert to Roth as that's not allowed on inherited accounts).

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Highlight:

Tax Moves Worth Considering Before the End of the Year [View all] question everything Oct 2020 OP

So.... went to look at the new forms question everything Jan 2021 #1

TurboTax: "claim my refunds". I don't think so, I expect I'll owe $8,800 federal taxes due progree Jan 2021 #2

Why did you not increase your estimated taxes during the year? question everything Jan 2021 #3

I'm safe harbor - I paid 2020 estimated taxes in total equaling my 2019 actual taxes progree Jan 2021 #4