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Get your taxes done using TurboTax
theres a number on line 3, and whatever portion of that you made from March 27 to the end of December, in any reasonable way, you calculate write that on line 18, and this form essentially calculates for you how much can be deferred to later tax seasons. you can probably take like 75% of what you made, thats reasonable because march - december is 3/4 of the year. personally, i think its better to just pay it now if you have the money so its not added to your tax bill in subsequent years, but thats up to you. thats what we are all talking about... theres some bug with the system because you're not supposed to HAVE to defer, only if you want to.
‎February 4, 2021
8:32 AM