Annualized Adjusted Gross Income questions

Hello,

 

I had a large sale of ISOs in December of 2024, so I am going through the Annualized Adjusted Gross Income method in TurboTax. I have detailed records of my income across the four periods. Couple of questions:

 

1) Based on my calculations, my cumulative adjusted gross income for 1/1/2024 to 12/31/2024 is a few dollars different than the AGI being calculated by TurboTax. I figured it may be due to rounding. Is a discrepancy this small an issue?

 

2) When going through the annualized adjusted gross income method, on the "Net Capital Gains" screen, it says "Enter your net capital gain/loss amounts for all periods through August 31, 2024. It then displays three periods:

  • 1/1/2024 to 3/31/2024
  • 1/1/2024 to 5/31/2024
  • 1/1/2024 to 8/31/2024

Should I be entering cumulative values here? So for example, if short term capital gain for the period 1/1/2024 to 3/31/2024 is $1000, I enter $1000 in that box.

Then from 4/1/2024 to 5/31/2024, I had another capital gain of $500. So in the short term capital gain box for period 1/1/2024 to 5/31/2024, would I put $1500 ($1000 + $500)?

 

3) Same question as number 2, but for the "Deduction for Qualified Business Income" screen -- cumulative values as well?

 

4) Lastly, I'm unclear on how to complete the final screen which is "Other Taxes". I have other taxes totaling $4148 ($233 Additional Medicare Tax, $3915 Net Investment Income Tax). Is it acceptable to simply divide the number of months in each period, then multiply by the total other tax?

  • 1/1/2024 to 3/31/2024 = $4148 * (3 months / 12) = $1037
  • 1/1/2024 to 5/31/2024 = $4148 (5 months / 12) = $1728
  • 1/1/2024 to 8/31/2024 = $4148 (8 months / 12) = $2765
  • 1/1/2024 to 12/31/2024 = TurboTax already displays $4,148 in this box