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Get your taxes done using TurboTax
So it’s clear as mud. How accurate does it have to be? It seems to me that in general, if you are withholding, and have some unusual income, you just have to pay 110% of last years or 90% of this years during the year by withholding or by estimated in the year and you are good. After all, how do I know I won’t have other losses to offset? That’s why that rule is there, to avoid nitpicking. Now if you are a business, I can imagine it’s different, you may be legally obligated since you don’t have withholding.
June 15, 2023
9:15 PM