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Get your taxes done using TurboTax
While annualizing income allows you to make estimated tax payments sufficient to cover only a particular tax quarter's income, forcing yourself to have to annualize income to avoid an underpayment penalty can be frustrating due to the substantial effort that you might have to expend to prepare Schedule AI of Form 2210.
You could use the CD/download version of 2023 TurboTax to prepare a rough simulation of your 2024 tax return to include Schedule AI and Form 2210 where it would show an approximation of your required quarterly tax payments.
‎December 14, 2023
12:51 PM