Concerning if I should annualize my return for fed and state. I assume I would have to annualize both to lessen the tax penalty assigned by both? If I decide after checking option to annualize, can I back out of this later, and decide not to in the program? I know I have to calculate income to each quarter, but do I have to do the same for interest and dividend income, and money made with exempt bond interest, etc? My federal AGI, is much more than my state of Mass amount shown for the prepopulated field in annualization program for Mass. Have any idea why this is so?
