turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Estimated Taxes 2019 - Much lower (retired) and uneven income -

My income in 2019 is much lower than in 2018 (retired) and 80% of my back pension/annuity monies was paid in Q1 2019.  I calculated estimated taxes due for 2019, but it is not clear to me how to account for disproportionate amount of income in Q1 2019 when I pay estimated taxes.  I had federal tax withheld on pension but amount withheld was not based on expected full year total pension (and there is some other income due to dividends, interest, mutual fund distributions.  Can I simply take the amount of federal tax I owe (less amount withheld) based on completing 1040-ES and pay 80% estimated tax in Q1 2019?

 

Thank you.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Estimated Taxes 2019 - Much lower (retired) and uneven income -

If you have projected your taxable income for the year and Then calculated the related tax and if you are saying 80% of that income has been paid to you in 1Q19, then paying 80% of the related tax on April 15th should work!
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies