Work with the receiving brokerage (Vanguard in your case) to have them "pull" funds from the sending brokerage. Check to see if there is a significant cost difference between AC and Vanguard for selling the current investment. In general it should be easier to transfer "in kind" from AC to Vanguard and then do the Roth conversion within Vanguard, and you would do otherwise only if Vanguard will charge you much to dispose of the AC fund.My plan is to leave American Century entirely and convert over to Roth Vanguard. Is there another way to go about this?
Apologies for the typo. The W-2 is the form the employer sends her at the end of the year to document her pay, withholding, etc.How do I adjust this?Having your wife adjust her W-2 W-4 withholding so the two of you fit into any of the Safe harbors that avoid underpayment penalties is one good way to handle the conversion tax.
Form W-4 is what she sends to the employer telling them how much tax to withhold.
See Tax Withholding Estimator | Internal Revenue Service for some guidance. Or, use a Tax estimation tool to predict your 2024 taxes and adjust the W-4 (she can do this multiple times during the year) to get within any of the Safe harbors that avoid underpayment penalties.
Statistics: Posted by FiveK — Sun Mar 17, 2024 10:16 pm — Replies 7 — Views 423