- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Probably not.
It is difficult to give you an answer without knowing the numbers, but if your income will be substantially less, the idea that you will fulfill the second requirement seems unlikely. If your income will be less, your withholding will be less, so you SHOULD NOT expect your withholding and refundable credits to 100% of the tax shown on your prior year’s tax return.
Since you (probably) won't fulfill that requirement, you need to consider the others.
Will you expect to owe at least 1,000 tax?
Consider your standard deduction, and how much over that you expect to claim as taxable income. Apply that to your expected tax rate.
As stated in the answer above, you can use an online estimator to help.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
February 19, 2025
7:35 AM
1,754 Views