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Get your taxes done using TurboTax
It depends. I assume you trying to determine how the estimated taxes will be applied next year. Here is how it works.
If your pension income is excluded next year, there will be less taxable income in your return. As a result, less tax liability will be generated in your 2023 return. If you report your estimated tax payments correctly in next year's return, this means that more of the estimated taxes you paid will either be refunded to you or your taxes due will not be as much.
You are correct that the tax law was not factored in determining your estimated tax payments for this year but rest assured, there will be less tax liability to contend with in 2023. so you will enjoy a bigger tax refund or pay less taxes.
Currently, there is not a way to view the exact details on how the state estimated tax payments will be applied as the 2023 tax forms have probably not been released yet in your state.
I hope this helps.
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