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State tax filing
Yes, you could take the total of your 529 contribution and divide it into the four quarters for calculating Annualized Income. This amount would be considered to be even throughout the year.
The annualized income is used to reduce penalties on the current year underpayment of estimated tax.
You will need to calculate how much income and deductions apply to each month so you can compute each "period" on the 2210 annualized method worksheet.
Click this link for more info on Calculating AGI.
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‎February 7, 2022
1:25 PM