ThomasM125
Expert Alumni

Get your taxes done using TurboTax

Without knowing what your tax obligation is for the year, it is difficult to determine if your estimated payment will be sufficient. What you can do is look at your tax from the previous year and divide it by 4. If you pay in that amount on a quarterly basis then you will have paid in sufficient estimated tax to avoid a penalty for late payment of tax, provided you pay any tax due by April 18, 2023.

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