Lee
Feb 18 1999, 06:19 PM
I made a partial conversion to a Roth in 1998. Am paying off all the federal tax due to a low AGI in 1998 (illness). Is it true that CA is forcing us to pay it off over 4 years??? (They don't want the money now if we offer it??) If true must one do this on the CA adjustments? Just subtract 75% from the Federal amount? Thanks, Lee
Lee
Feb 20 1999, 06:07 AM
CA finally (just) issued their Pub 1005A for Roth conversion and so far they are making you spread it out over 4 years, BUT Senate Bill 93 is being voted on to make it conform to Fed rules....so if you do it over 4 years and then they pass this, you have to do an ammended filing to pay it in 1 yr. as you must do as you did on the Fed. Catch 22 and we don't know yet! Lee answering herself