My wife and I file jointly. I am a partner in a business and get a K-1. She is an independent contractor and gets a 1099. Therefore, we both need to make estimated tax payments. Can I make one combined estimated tax payment for both of us of each quarter, or do we each have to make separate estimated tax payments each quarter?
Thank you.
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There is nothing special to making a "joint estimate" however all estimates made for a joint return should ALWAYS be made in the primary taxpayer's SS# ( first listed on the return) even if all the estimate belongs to the spouse listed on the return. Making payments in the spouse's SS# have been problematic in the past and have resulted in long battles with the IRS to get them "married" to the correct tax return.
if you are going to file jointly in 2022, you make joint estimates.
Thanks. Is a "joint estimate" something special or can I just make a regular estimated tax payments through the IRS website like normal?
I would of course pay an amount equal to what I owe for my income and what my wife owes for her income.
There is nothing special to making a "joint estimate" however all estimates made for a joint return should ALWAYS be made in the primary taxpayer's SS# ( first listed on the return) even if all the estimate belongs to the spouse listed on the return. Making payments in the spouse's SS# have been problematic in the past and have resulted in long battles with the IRS to get them "married" to the correct tax return.
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