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Deductions & credits
I came here for this exact scenario. I haven't had to pay estimated taxes in the past as this is the first year we've come out owing at tax time. We deferred more than $2000 in self-employment tax leaving us with a tax due of just over $1000. Turbo Tax calculated vouchers for 2021 on the $1000 not the $3000. That is unfortunate and shouldn't be the way it's calculated, though I see how it happened. I paid the $250ish it told me to pay (which puts me after the due date unfortunately since I took advantage of the extension without realizing I was going to have to pay estimated taxes). Now I don't think that amount was nearly enough and I'm not sure how to go about rectifying that and don't want to get hit with penalties as I don't really understand the ropes, never having had to pay estimated taxes. Anyone have any guidance for a newbie to estimated tax payments?