DianeW777
Expert Alumni

Investors & landlords

No, it's not new. If the income is low enough that little to no change is calculated in your tax liability each year, then you shouldn't need estimated tax payments just for that income. The key is to eliminate any tax penalty for underpayment, so if you have not had one and do not have one for 2024, there is nothing to be concerned about.

 

If you should happen to have an extra amount of income in any category, then you might consider checking your tax situation at that time. The IRS system is pay as you go, so when you make money, they want the tax dollars.

@sharlafriedrichs 

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