I am trying to figure out what my estimated taxes (or withholding) should be for California state. I want to avoid penalties so I am looking towards the Safe Harbor rules.
For single, I see the Safe Harbor is 110% of last year's taxes if AGI is >= $150,000, or 100% of last year's taxes if AGI is < $150,000.
My confusion is that my Federal AGI is >= $150,000 for last year, but I had a whole bunch of US Treasury Interest which dropped my state taxable income well below $150,000. The TurboTax summary page shows me this California "Taxable Income" figure which comes from Line 19 on my Form 540 Side 2, but I am unclear if this is the official (California AGI?) number I am supposed to measure against for Safe Harbor. If I can use this number, then I only need to pay 100% of last year's taxes instead of 110%.
I want to make sure I am using the right number so I don't underpay my CA state estimated taxes. I also want to make sure I am not supposed to use my Federal AGI for California Safe Harbor calculation.
Thank you
