JamesV84
Returning Member

If I overpay estimated payments for a quarter, will it cover the estimated payment for the next quarter if the amount overpaid covers the entirety of what is owed in the next quarter?

I overpaid one quarter of estimated taxes. However the following quarter taxes were low enough that the previous quarter’s overpayment would cover the next quarter’s taxes. Do I still have to make an estimated payment for that subsequent quarter even though the overpayment from the previous quarter would cover it?

Thanks.