12-19-2018, 10:21 AM
I've done the research (thank you forum members), I've run the numbers, I've made my decision, and now I'm about to pull the trigger and create a 'backdoor' Roth which will be funded by my IRA distributions over the next four years. (Times 2, as I'll be doing the same for my wife's 401k). I estimate I'll owe an additional $30k in taxes for 2018. I'll cover it from a taxable account. Question: What is the process to pay this additional amount? I'm hoping it's as simple as just adding it to my 4Q 1040 Estimated payment. (And next year I can spread it over all 4 estimated payments. Are there any 'gotcha's' in my thinking? Something else the IRS may require? I'm a TurboTax user as my taxes are very straightforward. I'd like avoid involving a CPA for this seemingly simple matter. Thanks!