I'm annualizing my income because I had capital gains in the fourth quarter and would pay an underpayment penalty if I don't (I had made the estimated tax for the capital gains in that quarter). I have income from a job as well. On the "Federal and CA AGI Adjustments" page, TurboTax asks for the AGI for quarters 1 to 3. Do I simply take the AGI minus the capital gains and divide by four and enter that amount for those fields? I have the same question for the "Itemized Deductions" page.
Please say it is because I have no idea how I can even begin to calculate the quarterly AGI and deductions. 🙂
Thank you in advance.
