I have unequal 2024 quarterly interest income and have taken my first 2024 RMD in Q1. I plan to make equal 2024 Est. tax payments and have over-withheld taxes from my RMD in Q1 to cover a large income stream I expect in Q4. My Q4 estimated tax payment won’t cover my Q4 income but my extra Q1 RMD withholding should.
If I’ve calculated correctly, will this satisfy my IRS/State estimated tax payment requirements?
Also, can Turbo tax calculate Estimated tax forms on an “Annualized” basis if I want to do this in the future?
