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Should I make estimated payments? My situation: I owed 2,000 in 2020 due to sale of stocks. I was also unemployed, so the $10,200 should reduce what I owe to under 1k...
I know I'm not supposed to amend my tax return yet, but due to the 10,200 from unemployment being reduced from AGI, I think I'll end up owing less than 1,000 for 2020. I don't anticipate owing money for 2021, but is it risky to not pay the quarterly payments? Could I be charged a fine?
Follow-up question: My AGI was around 85K before the 10,200 is excluded. I already filed and got a partial American Opportunity Credit for going to school. Since my AGI should change to under 80K, I think I should get the full AOC credit. Would I have to amend my return to get that increase?
Follow-up question: My AGI was around 85K before the 10,200 is excluded. I already filed and got a partial American Opportunity Credit for going to school. Since my AGI should change to under 80K, I think I should get the full AOC credit. Would I have to amend my return to get that increase?
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March 29, 2021
9:23 AM