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Get your taxes done using TurboTax
Hello lasr,
You would not be charged a federal penalty for under-withholding or not paying enough in taxes throughout the year if:
1. You have timely withholding or tax payments in which the total is equal to or exceeds 90% of your 2024 tax or
2. You have timely withholding or tax payments in which the total is equal to or exceeds 100% of your 2023 tax (110% if your 2023 adjusted gross income (AGI) was more than $150,000) or
3. Your total taxes are less than $1,000
You can use the TurboTax Investments Tax Calculators 2023 to help you estimate the capital gains/losses on your investments.
You can use the TurboTax TaxCaster Tax Calculator to help you estimate the amount of tax owed or refund due.
If it shows you will owe, you have time to make an estimated tax payment before January 15, 2025 to cover the 4th quarter of tax year 2024.
Helpful link:
How do I make estimated tax payments?
Estimated Taxes: How to Determine What to Pay and When
Underpayment of estimated tax by individuals penalty
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