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Get your taxes done using TurboTax
Since you are talking about reducing your late payment penalty by annualizing income, you'll have to show most or a large part of your income came at the second half or last quarter of last year. I found it would be easier if you can tabulate your income on a monthly basis (on a spreadsheet), then you have to add: 1) the first 3 months income (Jan-Mar), then the first 5 months (Jan-May), and lastly the first 8 months (Jan-Aug), then you enter these into Form 2210 (make sure you click on the supplement AI to enter these values). Once you do that, then Turbotax will fill in the rest.
March 31, 2025
12:14 PM