No. There is not a different rule based on the type of income you received.
Generally, if you owe $1,000
or more in state and county tax for the year that’s not covered by
withholding taxes, you need to be making estimated tax payments.
You might owe this penalty if:
- • The total of your credits, including timely made estimated tax
payments, is less than 90 percent of this year’s tax due or 100
percent* of last year’s tax due, ** or
- • You underpaid the minimum amount due for one or more of the
installment periods.
For more information you can review the information at this link: IN IT-40 Instructions (click on this document and start on page 9).
