Here is my situation...
2023: Worked a W2 job for the whole year, my Line 24 was $6,801.
2024: Stopped working at the 2023 W2 job. Received unemployment and had taxes withheld from March to June. Began work as a 1099 Contractor on July 1st, and know I have to make my first quarterly payment by September 15th for the June 1 - August 31 pay period. My 1099 Contractor work will not exceed my standard deduction of 14k income by year's end, likely will come in around 13k.
Question(s): How do I estimate quarterly taxes? Do I even need to pay them if my 1099 income will not exceed my standard deduction of 14k?
A secondary question, for itemized deductions - are these submitted with quarterly estimated payments or only during the annual return?
