I underpaid my taxes and must annualize my income. Here is why: I had no W2 wages for the first 8 months of 2024 after being laid off, just interest bearing accounts. Also, I sold a large amount of stock in December. When I went back to work at the end of the year, not enough was taken out of my paycheck. My struggle is reconciling interest income on many small bank accounts and investments I have. Q: Will the IRS allow me to take the total annual interest from each account and divide by 12 to then estimate the quarterly interest that was accrued?
