Concerning if I should annualize my return for fed and state. I assume I would have to annualize both to lessen the tax penalty assigned by both? Will the program let you annualize just the federal, and not the state return? If I decide after checking option to annualize, can I back out of this later, and decide not to in the program? Any idea how many screens is involved in doing this? I know I have to calculate income to each quarter, but do I have to do the same for interest and dividend income, and money made with exempt bond interest, etc? If annualizing the returns is very labor intensive, I don't know if it's worth it in my situation? My federal AGI, is much more than my state of Mass amount shown for the prepopulated field in annualization program for Mass. Have any idea why this is so?
