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Quarterly payments
For 2019 Turbo Tax estimated our quarterly payments should be about $2,000.00 per quarter. In August 2019 we sold all our stock and realized a very big gain. In doing my taxes on turbo tax now the estimated quarterly payments are over $8,000, I'm sure because of that gain. We will not be generating that kind of income for 2020. Can I use past experience and just send the I R S what I feel will be needed or will there be a penalty if I do not use Turbo Taxes estimate
March 6, 2020
7:16 AM