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Investors & landlords
@PattiF Thanks! According to the article you shared: "You can also avoid the penalty if your 2023 withholding or estimated tax payments equal at least 90% of your 2023 tax liability, or 100% of the tax shown on your 2022 return (110% if your 2022 adjusted gross income was more than $150,000)."
This sounds like no matter how much estimated tax is owed for Q1 2023, I would avoid any penalty as long as my total 2023 estimated tax payments equal 100% or 110% (depending on AGI) of my 2022 tax.
Right?
Thanks again.
‎April 15, 2023
4:18 PM