TurboTax is asking me to fill in quarterly AIG amounts for 2023, presumably to see if I need to pay the penalty. I have a corporate job, and my wife owns her own consulting business. We have no clue how much she's going to make every year, so what I've been doing is taking my expected income for the year, adding her income at the end of the quarter, determining the taxes, subtracting what I expect to pay in taxes for the year, and then paying that amount for the quarterly estimated taxes. There is no other way I can do this when she could make $500k or $50k; it's unknown year by year.
All that being said, how do I calculate the quarterly AIG? I can take my Fed taxable income that quarter, add her income, and then what? Do I subtract a quarter of the standard deduction and business expenses for that quarter? Am I trying too hard here?
