Get your taxes done using TurboTax

When I subtract 'A' (tax withheld to date), I only include the Federal tax -- NOT the Medicare or social security taxes - correct?

• If you own a business and you have self-employment calculated, you will include it.  If you simply have wages and investments you will not.

By paying these estimated taxes quarterly, we will avoid the underpayment penalty -- even if we sell stock this year and therefore will owe more in capital gains taxes?

• If you pay 110% of your 2022 taxes, you will not incur a penalty for additional capital gains taxes.

I only need to make this payment on irs.gov. I do not need to file or print out any extra forms, correct?

• If you make the Online payments, you do not have to submit the paper copy to the IRS.

Your formula is correct:

X= 110% of 2022 tax divided by 4

subtract A which is tax withheld to date

P= payment

X-A=P

The payment due dates are:  4/18/2023,  6/15/2023,  9/15/2023  & 1/16/2024

for 4/18/2023

X= 110% of 2022 tax divided by 4

A = tax withheld to date 

X - A = P

For 6/15/2023

A is payments including payment from 4/18.

2X - A = P

For 9/15/2023

A is payments including payment from 4/18 & 6/15

3X - A =P

For 1/15/2024

A is payments including payment from 4/18 & 6/15 & 9/15

4X - A =P