Why does Turbo Tax suggest I pay only 35% of this years total tax as next year's estimated tax?
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do you have withholding or did you enter what you expect next year's income to look like?
Turbo Tax generates its own suggestion in the form of 1040ES 1 ... 4. The total amount Turbo Tax suggests I submit during 2022 is just 35% of my 2021 total tax. I estimate I'll need to submit more than this year's total tax rather than this lo-ball estimate.
Would I have to pay a penalty for under payment if I followed TurboTax's suggestion?
Why isn't the default value this years total tax in four equal parts?
I'm not sure what "do you have withholding" means. I did pay withholding during 2021. I did not enter what my next year's income would be. I don't think Turbo Tax asked that. I picked the items to enter rather than let TurboTax walk through its entire dialog.
Why isn't the default value for 2022 this years total tax in four equal parts?
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