General rule:
You must pay estimated tax for 2023 if both of the following apply.
- You expect to owe at least $1,000 in tax for 2023 after subtracting your withholding and tax credits.
- You expect your withholding and tax credits to be less than the smaller of:
- 90% of the tax to be shown on your 2023 tax return, or
- 100% of the tax shown on your 2022 tax return. Your 2022 tax return must cover all 12 months.
Note: If your AGI for 2022 was more than $150,000 ($75,000 if your filing status for 2022 is married filing a separate return), substitute 110% for 100%
